- The Federal Reserve unanimously voted to raise interest rates by 25 basis points to a range of 3.75% to 4.00%, marking the first rate hike since July 2023.
- Most Federal Reserve officials expect at least one additional 25 basis point rate hike by the end of the year to combat high inflation.
- The central bank noted that the economy is growing at a solid pace and the labor market remains strong despite uncertainties caused by the US-Iran war and rising energy prices.
