Federal Reserve raises interest rates by half percentage point, in effort to slow inflation

The increase, which was expected, marks the  first time in 22 years that the central bank has increased rates that much

Published: May 4, 2022 2:07pm

Updated: May 4, 2022 2:13pm

The Federal Reserve on Wednesday announced the central bank will  raising interest rates by a half-percentage point, in attempt to slow the worst inflation in the U.S. in roughly four decades.

The increase, which was expected, marks the  first time in 22 years that the central bank has increased rates that much, according to CNN.

The Facts Inside Our Reporter's Notebook

Unlock unlimited access

  • No Ads Within Stories
  • No Autoplay Videos
  • VIP access to exclusive Just the News newsmaker events hosted by John Solomon and his team.
  • Support the investigative reporting and honest news presentation you've come to enjoy from Just the News.
  • Just the News Spotlight

    Support Just the News