Bidenflation Soars: Feds Raise Rates To Highest Level In 15 Years

  • The Federal Reserve continued its battle against inflation by raising its benchmark interest rate to the highest level in 15 years.
  • The Federal Open Market Committee voted to boost the overnight borrowing rate half a percentage point, taking it to a targeted range between 4.25% and 4.5%.
  • Along with the increase came an indication that officials expect to keep rates higher through next year, with no reductions until 2024.