US Federal Reserve raises interest rates for the first time since 2023
The U.S. Federal Reserve increased its benchmark interest rate for the first time since 2023, raising the federal funds range by a quarter‑percentage point to 3.75%‑4.00%. The decision, approved unanimously by the 12‑member committee, signals a tightening stance amid persistent inflation concerns. The move is expected to influence borrowing costs across the economy for households and businesses.