The U.S. Federal Reserve on Wednesday raised its benchmark interest rate by 0.25 percentage point, pressing on with its aggressive monetary tightening campaign to curb decades-high inflation, but signaled a pause in its cycle of rate hikes may come soon.Amid further financial turmoil following the collapse of California-based First Republic Bank, another increase brings the federal funds rate, which banks charge each other for overnight borrowing, to a new target range of 5 to 5.25 percent, a level not seen since 2007.The 10th consecutive hike since March 2022 was announced after a two-day …READ FULL ARTICLE
