U.S. Federal Reserve raises interest rates for 1st time in 3 years

The Federal Reserve has raised interest rates for the first time in three years, marking a significant policy shift under the new leadership. Initially, rates were cut to help rein in inflation and get it back to the central bank's target of two percent. This move has implications not just for the U.S. economy but also globally, as it could influence other countries' monetary policies. Economists note that the pressure from this change may not impact Canada in the same way, suggesting differing economic dynamics and policy responses in North America.