Fed raises rates a quarter point, expects ‘ongoing’ increases

The Federal Reserve on Wednesday raised its benchmark interest rate by a quarter percent

age point and gave little indication it is nearing the end of this hiking cycle.

Aligning with market expectations, the rate-setting Federal Open Market Committee boosted the federal funds rate by 0.25 percentage point. That takes it to a target range of 4.5%-4.75%, the highest since October 2007.

https://www.cnbc.com/2023/02/01/fed-rate-decision-february-2023-quarter-point-hike.html