India, Sept. 16 -- The US Federal Reserve raised its benchmark interest rate by 0.25 percentage point on Wednesday, September 16. The rate hike was widely expected by Wall Street, as markets had already been preparing for the central bank to raise borrowing costs. After the increase, the Fed's target range for the federal funds rate moved to 3.75% to 4%.

This is the first rate hike by the Federal Reserve in three years, marking a major change after a long period without an increase. The Fed's decision comes as it continues to deal with stubborn inflation in the US economy.

Published by HT Digital Content Services with permission from Hindustan Times....