Federal Reserve Hikes Rates Again Amid Ongoing Inflation Worries

The Federal Reserve has raised its federal funds rate by 25 basis points in a unanimous decision.

This move brings the target range to 4.75-5% for the first time since 2006, showing continued efforts from the central bank to combat inflation.

The decision was made at the Federal Open Market Committee (FOMC) meeting on [no date mentioned in source], with no dissenting votes recorded.