💨 Abstract

The Associated Press (AP) has reported that the U.S. Federal Reserve is expected to raise interest rates by 0.5% on May 3, 2025. This decision comes as inflation has reached a 40-year high of 8.2%, and the Fed aims to curb inflation while maintaining a strong job market. The move could affect mortgage rates, credit card interest, and other borrowing costs for consumers and businesses.

Courtesy: wtop.com

Summarized by Einstein Beta 🤖