In an unsurprising move, the Fed has raised interest rates 25 basis points to 5 per cent — its highest level in more than five years, according to a story running in various media.
The rate hikes effectively raise the borrowing costs for millions of Americans.
Economists remain unsure whether this is just one in a series of rate increases, or if this will satisfy the Fed.
You can read more about this story at Federal Reserve Raises Funds Rate.
