The Fed is expected to raise interest rates for the first time in 3 years
ThinkingNews Desk · how this was written
The Federal Reserve raised its benchmark interest rate for the first time in three years, increasing it by 25 basis points to a range of 3.75%–4%. The decision was unanimous and came amid persistent inflation, with higher energy prices contributing to the rise.
Written from all 3 reports below, not from any single one.
How it was reported
- NPR·The Fed is expected to raise interest rates for the first time in 3 years
The Fed is widely expected to raise its benchmark interest rate to combat stubborn inflation. That could make it more expensive to borrow money to buy a car or carry a balance on a credit card.
- NPR·Fed expected to raise interest rates. And, board votes to close Kennedy Center
The Fed is expected to raise interest rates today for the first time in three years. And, the Kennedy Center board voted yesterday to close the historic center.
- Al Jazeera·US Fed raises interest rates as inflation weighs on economy
The 25bps hike is the first raise in three years and comes ahead of critical midterm elections in the US.
- BBC News·US interest rates raised for first time in three years
The Federal Reserve unanimously voted to increase interest rates to 3.75%-4% from 3.5%-3.75% on Wednesday.
- Al Jazeera·What to know about US Federal Reserve’s first interest rate hike in 3 years
The unanimous decision comes as prices have remained stubbornly high and despite Trump's demands for lower rates.
- Al Jazeera·Why is inflation rising again around the world?
Rising energy prices are pushing inflation higher again, forcing major central banks to raise interest rates.
- NPR·The Fed raises interest rates. And, EU proposes Canada become an 'associate member'
The Federal Reserve has raised interest rates for the first time in years. And, the European Union has proposed that Canada become its first-ever "associate member."