US Fed Meeting LIVE Updates: Fed approves interest rate hike, signals one more to come this year

US

Fed Meeting LIVE Updates: The US Federal Reserve on Wednesday (September 16) raised interest rates for the first time in more than three years and signalled another hike ahead as it seeks to contain inflation driven by rising oil prices and other factors.

As widely expected by markets, the Federal Open Market Committee voted unanimously 12-0 to raise the benchmark interest rate by 25 basis points. The increase took the federal funds target range to 3.75%-4%.

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