Mumbai, Sept. 17 -- The Federal Reserve raised interest rates for the first time in three years and signaled further tightening this year to contain inflation. The Federal Open Market Committee (FOMC) voted unanimously to lift the benchmark federal funds rate to a range of 3.75% to 4.0% on Wednesday. It was the US central bank's first rate hike since July 2023. Fed Chair Kevin Warsh restated his concerns over inflation, saying too many categories of products and services were showing annualized price gains above 3% on a 6- and 12-month basis. Warsh flagged further increases in borrowing costs in the coming months.
Published by HT Digital Content Services with permission from Capital Market....