🚨 BREAKING: The Federal Reserve has raised its benchmark interest rate by 25bps to 5.50%, aligning with market expectations. This marks the highest rate in 16 years, driven by concerns over high inflation. The Fed will closely monitor data and assess the impact of rate increases on the economy to determine further appropriate measures in achieving its 2% inflation target. #FederalReserve #InterestRates

(Source: CNBC)