Fed raises rates by 25 basis points in first hike since July 2023
60-second summary
The Federal Reserve lifts its benchmark fed funds rate by 25 basis points, setting the range at 3.75 %‑4.00 % in the first hike since July 2023; the move aligns with market expectations and signals continued tightening to curb inflation, prompting higher borrowing costs that could pressure equities, strengthen the dollar and temper risk‑on crypto price momentum.
The widely expected move places the U.S. Federal Reserve's benchmark fed funds rate range at 3.75%-4.0%.