Fed raises rates again

The Federal Reserve raised interest rates to 5 percent on Wednesday. This is the 16th consecutive increase and brings the key rate to its highest level in 5 years. It has also clearly signaled that further rate rises may be required to keep inflation under control.

Fed Raises Key Rate to Highest Level in 5 Years

"The committee judges that some further policy firming may yet be needed to address inflation risks but emphasizes that the extent and timing of any such firming will depend importantly on the evolution of the economic outlook as implied by incoming information"