Fed hikes interest rate by half percentage point - benchmark rate seen topping out at 5.25%

The Federal Reserve on Wednesday raised its benchmark interest rate by 0.5 percentage point and signals more tightening next year.

The half-point increase brings the Fed’s federal funds rate up to a range of 4.25%-4.5%, the highest since 2007. The central bank has raised rates from near-zero in March to try to dampen inflationary pressures in the wake of the pandemic.

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Source : Fed hikes interest rate by half percentage point - benchmark rate seen topping out at 5.25%