On Wednesday, the Federal Reserve raised the benchmark interest rate by three-quarters of a percentage point (Picture: AFP)
In an effort to control inflation, the Federal Reserve raised interest rates for the first time since 1994.
The Federal Reserve hiked the benchmark interest rate by three-quarters of a percentage point on Wednesday in a bold move.
The increase in interest rates will raise the cost of borrowing for home purchases, automobile purchases, and other loans.
.
