In a widely anticipated move, the Federal Reserve on Wednesday announced its decision to raise interest rates by 75 basis points.
The Fed said it decided to raise the target range for the federal funds rate to 2.25 to 2.50 percent in an effort to achieve its dual goals of maximum employment and inflation at a rate of 2 percent over the longer run.
The latest rate hike follows another 75 basis point increase in rates last month and marks the fourth straight central bank meeting that has resulted in a rate hike.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.