The Federal Reserve on Wednesday increased its benchmark interest rate by a quarter-point following a steady stream of upbeat employment and inflation data. The short-term rate is now at a range of 0.75 percent to 1 percent.
It is the second time in three months and the third time in 15 months that the Fed has raised the interest rate, after holding it near zero for almost a decade during and after the Great Recession. Any further hikes this year are expected to be "gradual," The Associated Press reports.
-
The Week Unwrapped: Who had the last laugh in Riyadh?Podcast Plus are imported eggs undermining animal welfare? And what can we do about AI deepfakes?
-
The week’s best photosIn Pictures A celebration of peace, sheep on the streets, and more
-
Codeword: October 10, 2025The Week's daily codeword puzzle
-
Gold tops $4K per ounce, signaling financial uneaseSpeed Read Investors are worried about President Donald Trump’s trade war
-
Electronic Arts to go private in record $55B dealspeed read The video game giant is behind ‘The Sims’ and ‘Madden NFL’
-
New York court tosses Trump's $500M fraud fineSpeed Read A divided appeals court threw out a hefty penalty against President Trump for fraudulently inflating his wealth
-
Trump said to seek government stake in IntelSpeed Read The president and Intel CEO Lip-Bu Tan reportedly discussed the proposal at a recent meeting
-
US to take 15% cut of AI chip sales to ChinaSpeed Read Nvidia and AMD will pay the Trump administration 15% of their revenue from selling artificial intelligence chips to China
-
NFL gets ESPN stake in deal with DisneySpeed Read The deal gives the NFL a 10% stake in Disney's ESPN sports empire and gives ESPN ownership of NFL Network
-
Samsung to make Tesla chips in $16.5B dealSpeed Read Tesla has signed a deal to get its next-generation chips from Samsung
-
FCC greenlights $8B Paramount-Skydance mergerSpeed Read The Federal Communications Commission will allow Paramount to merge with the Hollywood studio Skydance
