US Fed raises key rate for first time in 3 years

In an attempt to address the persistently high inflation in the world's largest economy, the US Federal Reserve increased interest rates by 25 basis points.

The US Federal Reserve on Wednesday raised interest rates by 25 basis points in an attempt to tackle stubbornly high inflation in the world's largest economy.

This move is sure to anger President Donald Trump, who has called for lower rates.

More to follow...