The Fed raises rates by 25 basis points to 3.75%-4%, first increase since July 2023

The Federal Reserve raises interest rates in the third board meeting with Kevin Warsh as president. The cost of money, in line with expectations, rises from the range between 3.50% and 3.75% to that between 3.75% and 4%. This is the first increase since July 2023: since then, before today’s decision, the FOMC had cut rates six times, for a total of 175 basis points.

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