On Wednesday, the Federal Reserve announced that it would once again be raising the interest rates by 0.75 of a percentage point.
This is the second month in a row that the Fed has raised the rates a historic 0.75%
The goal of the Fed is to slow down the economy enough to fight inflation which was 9.1% in a June report. In this video, Victoria DeLuce our EVP of Capital Markets breaks down the Fed's announcement and what it could mean.