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Fed raises rates for first time since July 2023
The decision comes less than two months before the midterm elections, underscoring its political timing as well as its inflation focus.
The New York Times Economy reports that the Federal Reserve raised interest rates for the first time since July 2023.
The outlet said the move is intended to help contain inflation.
It also noted the timing, with the decision landing less than two months before the midterm elections.
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