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    The Fed raises interest rates again in what could be its final attack on inflation

    The Federal Reserve raised interest rates by a quarter percentage point Wednesday in an effort to curb persistent inflation. It was the tenth rate hike in 14 months, and possibly the last for a while.
    by Scott Horsley May 03, 2023 2 minutes
    Federal Reserve Chair Jerome Powell speaks during a news conference at the Federal Reserve in Washington, D.C, on March 22, 2023.

    The Federal Reserve raised interest rates by another quarter percentage point Wednesday, extending its 14-month crackdown on stubborn inflation.

    With signs of a softening job market and slower economic growth, forecasters think this could be the central bank's last rate hike for a while, especially as turmoil in the banking sector raises new uncertainties.

    The Fed hinted, dropping a line it used previously about the likely need for additional rate increases.

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