fed rate hike

The Fed raises interest rates again

The Federal Reserve raised interest rates for the ninth time

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

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

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

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

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