The U.S. Federal Reserve Board Wednesday announced another increase to the federal funds rate, inching the target range up to 5% to 5.25%, an increase of a quarter of a point.
Wednesday’s announcement is the tenth rate hike since March 2022.
The U.S. Federal Reserve Board Wednesday announced another increase to the federal funds rate, inching the target range up to 5% to 5.25%, an increase of a quarter of a point.
Wednesday’s announcement is the tenth rate hike since March 2022.
The Feds’ key interest rate was 1% to 1.25% just before the COVID-19 pandemic. In the middle of March 2020, the rate dropped to 0 to 0.25%. The federal government soon kicked off a several trillion dollar spending spree over the next two years in response to hardships during the pandemic, which were fueled in large part by aggressive lockdown policies.
