Earlier this year, the Federal Reserve turned to its most potent weapon — raising interest rates — to combat soaring inflation.
Storyboard
How the Fed's 0.75 percent interest rate hike will impact your wallet
The Federal Reserve said on Wednesday that it is raising its benchmark interest rate by three-quarters of a percentage point, the sharpest hike since 1994. Here's how it will impact your wallet.
Photo: assets1.cbsnewsstatic.com
The U.S. central bank set its target rate in the range of 1.5 to 1.75%.
read more
