The Federal Reserve reversed its previous trajectory and raised interest rates on Wednesday, marking the first increase since 2023. The central bank implemented a 0.25 percentage point hike, which pushes the federal funds target range to between 3.75% and 4%.
Greg Robb, senior reporter and economics editor at MarketWatch, provided analysis on the decision for CBS News, highlighting the significance of the move in the current economic landscape.
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Good to see the Fed staying vigilant. Keeping a watchful eye on price stability remains crucial for long-term economic health.
This is concerning. Raising rates now feels like the wrong move when inflation is already cooling. It will hurt borrowers the most.