NTD Business (July 26): Fed Hike Pushed Borrowing Costs to Their Highest Since Global Financial Crisis

The Federal Reserve rate hike pushed borrowing costs to their highest since the global financial crisis, raising rates by a quarter of a percentage point on Wednesday. The Fed cited still elevated inflation as a reason. The rate hike is the Fed’s 11th in its last 12 meetings. The accompanying policy statement left the door open to another increase. Fed officials are estimating one more rate hike this year, according to their latest set of projections, but did not indicate when rate cuts will be coming.