U.S. Fed decides 1st rate hike since 2018 amid inflation, Russia war

The U.S. Federal Reserve said Wednesday it will raise key interest rates for the first time since 2018 and signaled six more rate increases this year to tame high inflation, with Russia's war in Ukraine adding to concerns of elevated prices including for energy.Upon concluding a two-day meeting of the policy-setting Federal Open Market Committee, the bank said it will lift its target range for the federal funds rate to 0.25 to 0.5 percent, after maintaining the level at near-zero since March 2020 to support the economic recovery from the downturn triggered by the coronavirus pandemic.A rise…READ FULL ARTICLE