The Federal Reserve announced on the 3rd that it would raise the target range of the federal interest rate by 25 basis points to a level of 5%-5.25%, basically in line with market expectations. It was the Fed's tenth straight rate hike since last March, and the third in a row at its slowest pace since last March. The current federal interest rate has reached the highest level since 2007.
The Fed raised interest rates by 25 basis points in May basically in line with market expectations
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