Fed Raises Rates to 3.75%–4% as Inflation Remains Elevated
The Federal Reserve approved its first increase in more than three years and projected another possible move this year as inflation remained above target.
The Federal Reserve approved its first increase in more than three years and projected another possible move this year as inflation remained above target.
Consumer prices rose 0.4% in August and 3.4% from a year earlier, with gasoline and energy costs driving much of the monthly increase ahead of the Federal Reserve’s September meeting.
