US Federal Reserve Raises Interest Rate to 22-Year High in Continued Inflation Fight
Washington, D.C. – The U.S. Federal Reserve on Wednesday, July 26, 2023, announced it was raising its benchmark interest rate by another 25 basis points, bringing the target range for the federal funds rate to 5.25% to 5.50%. This marks the highest level for the key lending rate since 2001 and signals the central bank’s…