Fed lifts rates by half percentage point

The Federal Reserve raised interest rates by half a percentage point on Wednesday and projected at least an additional 75 basis points of increases in borrowing costs by the end of 2023 as well as a rise in unemployment and a near stalling of economic growth. Inflation, based on the Fed's preferred measure, is seen remaining above the central bank's 2% target at least until the end of 2025.

source https://timesofindia.indiatimes.com/business/international-business/fed-lifts-rates-by-half-percentage-point-sees-economy-nearing-stall-speed/articleshow/96234303.cms