fed rate hike

The Fed raises interest rates again

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The Federal Reserve raised interest rates for the ninth time

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Members of the Fed's rate-setting committee believe slighly higher rates may be necessary to restore price stability

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Fed policymakers voted unanimously to raise their benchmark interest rate by a quarter percentage point to just under 5%

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which will make it more expensive for people seeking car loans or carrying a balance on their credit cards.

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policymakers anticipate rates climbing by another quarter-percentage point by the end of this year

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Some observers had urged the central bank to pause its rate hikes, at least temporarily, by the end of this year

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