The Federal Reserve announced today it has raised its benchmark interest rate. This marks the first such increase by the U.S. central bank since 2023.
The move comes as the Fed also indicated that another interest rate hike is likely before the end of the year. Financial experts are beginning to offer guidance on managing debt, while discussions are underway regarding what the rate increase means for consumers.
The decision by the central bank is expected to have various impacts across the economy. This is a developing story and will be updated as details emerge.
