US Federal Reserve raises rates to historic high, again

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Despite inflation being 3% last month, the Federal Reserve raised rates for the 11th time in just over a year. The benchmark rate rose to a range of 5.25% to 5.5%, the highest level for over 2 decades. Ed Butler discusses this and all the other business and economic news from around the world with Walter Todd, president and chief investment officer of Greenwood Capital in South Carolina and Jessica Khine, a Corporate Advisor for Astris Advisory, based in Malaysia. (Photo: A trader works inside a booth, as screens display a news conference by Federal Reserve Board Chairman Jerome Powell following the rate announcement, on the floor of the New York Stock Exchange, 26 July, 2023. Credit: Brendan McDermid/Reuters)