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The Los Angeles

Fed raises interest rates for first time in 3 years amid persistent inflation

Fed raises interest rates for first time in 3 years amid persistent inflation
Photo: NBC Los Angeles (KNBC) · view original

The Federal Reserve raised its benchmark interest rate Wednesday for the first time since 2023 in an effort to quell stubbornly-high inflation, a move that could spur a sharp response from the White House. The quarter-point increase lifts the Fed’s key rate to about 3.9% and, over time, could re...

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