WASHINGTON— The Federal Reserve raised interest rates Wednesday for the first time in three years as inflation continues to dog the economy, largely driven by soaring gas and fuel oil prices while the war in Iran drags on. The central bank's Federal Open Market Committee voted 12-0 to increase its benchmark interest rate by a quarter of a percentage point,…
WASHINGTON— The Federal Reserve raised interest rates Wednesday and flagged further increases in borrowing costs in coming months, with new U.S. central bank chief Kevin Warsh joining a unanimous decision that effectively acknowledges the Trump administration's inability so far to control inflation. While President Donald Trump promised to lower…
Read more