The Federal Reserve hiked interest rates again after three years, raising the benchmark rate to 3.75%-4%.

TechFlow reports that on September 17, according to CoinDesk, the U.S. Federal Reserve (Fed) raised the benchmark interest rate by 25 basis points to a target range of 3.75%-4.00%. This marks the Fed's first rate hike since July 2023. The decision was approved unanimously, and the move had been widely anticipated by the market.

The FOMC stated in its policy announcement that economic activity is expanding at a solid pace, and domestic spending remains resilient despite ongoing geopolitical uncertainties. The statement noted that inflation remains elevated, and this rate hike aims to support the committee's effort to achieve its 2% inflation target and restore price stability as soon as possible. Currently, most market participants anticipate another rate hike within the year.