Fed Raising Interest Rates 25 Basis Points, Warns Of Even More Rate Hikes

(New York, NY) — Interest rates are being raised by the Federal Reserve for the first time in more than three years. The quarter of a percentage point hike will have Americans seeing higher credit card and mortgage rates. Meantime, the central bank warned more rate hikes could be coming in the future as well. The Fed has been allowing for massive amounts of credit to help curb fears of a possible global recession caused by the pandemic.