Fed Hikes Rates for First Time Since July 2023 Amid Sticky Inflation

The US Federal Reserve has raised its target federal funds rate by 25 basis points to a range of 3.75 percent to 4 percent, marking its first interest rate hike since July 2023.

This decision aims to address persistent inflation in the country, which remains a concern for policymakers and investors alike.

The move is seen as a response to the ongoing economic situation, where inflation has stayed sticky despite previous efforts to curb it.