The Federal Reserve raised its target interest rate by another quarter of a percentage point.

<div class="block">The Federal Reserve raised its target interest rate by another quarter of a percentage point.</div>

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Federal Reserve Raises Target Interest Rates By 0.25%

The Federal Reserve raised its target interest rate by another quarter of a percentage point so far raised rates 11 times since March of last year as it's worked to lower inflation. The fed chair Jerome Powell said the efforts are ongoing. Inflation remains well above our longer run goal of 2% inflation has moderated somewhat since the middle of last year. Nonetheless, the process of getting inflation back down to 2% has a long way to go. Powell added that the board would not be comfortable lowering rates until at least next year.