Fed Hikes Interest Rates for First Time Since 2018

The Federal Reserve raised its benchmark interest rate for the first time in over three years on Wednesday, marking a sharp policy turnaround.

The Fed's decision was widely expected, and it comes as the US economy is increasingly shaped by the war in the Middle East.

This move is seen as a response to rising inflation and economic growth. The rate increase will likely have implications for consumers and businesses alike, particularly those with variable-rate loans or credit card debt.