interest rate fixing

The Federal Reserve raised interest rates by half a percentage point Wednesday, in an effort to cool off demand and lower inflation. Consumer prices have been rising at the fastest pace in 40 years.

The U.S. Federal Reserve is raising the benchmark borrowing rate to a range of 2.25 percent to 2.50 percent, a move that would put it at the highest level in a decade.

The Federal Reserve is raising interest rates after seven years of record lows. It's signaling that further rate hikes will likely be made slowly.

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