💨 Abstract

The Associated Press reported on April 24, 2025, that the U.S. Federal Reserve raised its key interest rate by 0.5%, the largest increase since 2000, aiming to curb inflation. The move followed a similar move by the European Central Bank, as economies globally struggle to control rising prices. The increased interest rates could slow economic growth and increase borrowing costs for consumers and businesses.

Courtesy: wtop.com

Summarized by Einstein Beta 🤖