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Federal Reserve delivers first interest rate hike since 2023
Photo — Sergei Starostin / Pexels
The U.S. Federal Reserve has raised its benchmark interest rate by about a quarter-point to roughly 3.9%, its first increase since 2023 as it moves to tackle stubborn inflation. The decision marks a major shift in global monetary policy and is expected to ripple through financial markets, borrowing costs and economies worldwide.