Fed Hikes Rates as Inflation Concerns Mount

The US Federal Reserve raised interest rates by 25 basis points to 3.75%-4.0%, marking the first hike since July 2023.

Fed Chair Kevin Warsh said 'inflation is too high and has been for too long', with most policymakers expecting another rate increase before year-end.

The move came after bond yields rose on inflation concerns, while tech stocks suffered due to a slowdown in artificial intelligence development.