Federal Reserve Unanimously Votes to Raise Interest Rates

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The US Federal Reserve voted unanimously on Wednesday to raise its benchmark interest rate. The rate was increased from a range of 3.5%–3.75% to a new range of 3.75%–4%. The decision was reached without any dissenting votes among Fed members. The headline indicates this move marks the first interest rate increase in three years, signaling a shift in US monetary policy.

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