The FED held its second meeting this year and announced the highly anticipated interest rate decision.
It increased the policy rate by 25 basis points to a range of 4 point 75 to 5 percent.
“Although recent indicators point to moderate growth, inflation remains high,” the United States Federal Reserve said in a statement.
With this decision, the FED has increased interest rates 9 times in a row.
The United States Federal Reserve will hold its third meeting of 2023 on May 2-3.