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Federal Reserve hikes key rate for 1st time in 3 years, defying Trump demands for a cut

1 week ago
WASHINGTON (AP) โ€” The Federal Reserve raised its benchmark interest rate Wednesday for the first time since 2023 in an effort to quell stubbornly high inflation, and the central bank signaled another rate hike could occur later this year. The quarter-point increase lifts the Fedโ€™s key rate to about 3.9% and, over time, could result [...]
CHRISTOPHER RUGABER, Associated Press