Federal Reserve Raises Interest Rates by 25 Basis Points, Opens Door to Pause

Federal Reserve Board Chair Jerome Powell speaks during a news conference at the Federal Reserve in Washington on March 22, 2023. (Olivier Douliery/AFP via Getty Images) The Federal Reserve raised interest rates by 25 basis points, lifting the benchmark federal funds rate to a range of 5.00 and 5.25 percent, the highest level since September 2007. The vote to raise rates by a quarter point was unanimous, according to a statement from the Federal Open Market Committee (FOMC). Markets had mostly priced in a rate hike, so investors were more...