May 3rd 2023 Fed Raised Interest rate 0.25 Percentage Point

Fed Chair Powell speaks after Fed hikes interest rates by a quarter percentage point — 5/3/23

Federal Reserve Chairman Jerome Powell delivers remarks after the central bank on Wednesday released its decision on interest rates following a two-day meeting. The central bank raised interest rates by a quarter of a percentage point, a move that was broadly expected by the market. The increase takes the fed funds rate to a target range of 5% to 5.25%, the highest since August 2007. It was a unanimous decision by the Federal Open Market Committee. » Subscribe to CNBC TV: https://cnb.cx/SubscribeCNBCtelevision » Subscribe to CNBC: https://cnb.cx/SubscribeCNBC Turn to CNBC TV for the latest stock market news and analysis. From market futures to live price updates CNBC is the leader in business news worldwide. Connect with CNBC News Online Get the latest news: http://www.cnbc.com/ Follow CNBC on LinkedIn: https://cnb.cx/LinkedInCNBC Follow CNBC News on Facebook: https://cnb.cx/LikeCNBC Follow CNBC News on Twitter: https://cnb.cx/FollowCNBC Follow CNBC News on Instagram: https://cnb.cx/InstagramCNBC #CNBC #cnbctv LIVE: Chairman Powell speaks after Federal Reserve's policy meeting — 05/03/23

Here’s how the Federal Reserve’s latest quarter-point interest rate hike impacts your money

  • The Federal Reserve raised interest rates by a quarter of a point at the end of its two-day policy meeting.
  • This 0.25 percentage point hike marks the 10th time the Fed has raised its benchmark interest rate over the past year or so, the fastest pace of tightening since the early 1980s.
  • A wide range of borrowing costs — from mortgages and credit cards to auto loans and student debt — are affected by the rate increase.

By Jessica Dickler

CNBC

May 03 2023

Learn more

The Fed announces what could be its last rate hike this year—here’s what to expect for 2024

By Mike Winters

CNBC

May 03 2023

Learn more

Fed increases rates a quarter point and signals a potential end to hikes

By Jeff Cox

CNBC

May 03 2023

Learn more

Live updates: Fed hikes interest rate 0.25 percentage point but signals pause
 

By Paul Davidson and Charisse Jones

USA Today

May 03 2023

Learn more