The Federal Reserve raised its target range for the federal funds rate by a quarter point to 3.75% to 4% on Wednesday, saying the move was needed to support its dual mandate and help secure a timelier return to 2% inflation. In a unanimous 12-0 vote, policymakers said economic activity is expanding at a solid pace, labor markets remain stable, and domestic spending has proved resilient despite elevated uncertainty tied in part to geopolitical developments.
Fed Raises Benchmark Rate to 3.75%-4% as Inflation Stays Elevated and Growth Holds Firm
R
RDU Global Correspondent
Central Banks Desk
Washington, United States 6h ago•4 min read
The Federal Reserve raised its target range for the federal funds rate by a quarter point to 3.75% to 4% on Wednesday, saying the move was needed to support its dual mandate and help secure a timelier return to 2% inflation. In a unanimous 12-0 vote, policymakers said economic activity is expanding at a solid pace, labor markets remain stable, and domestic spending has proved resilient despite elevated uncertainty tied in part to geopolitical developments.
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