Fed raises interest rates, signaling a potential end to hikes.
TL;DR Summary
The Federal Reserve has raised its key interest rate by a quarter of a percentage point to a range between 5% and 5.25%, the highest level since 2007, in its ongoing bid to crush inflation. However, the Fed indicated it could pause the increases to assess the impact of monetary tightening on the US economy. The Fed's rate-setting body said tighter credit conditions for households and businesses are likely to weigh on economic activity, hiring and inflation.
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- Fed increases rates a quarter point and signals a potential end to hikes CNBC
- Opinion: It makes no sense for the Fed to raise interest rates this week CNN
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