The Federal Reserve in the United States has approved a 0.25% increase in interest rates. This marks the first increase in rates since the beginning of the COVID-19 pandemic and reflects the Fed's assessment of the improving economy. Fed Chair Jerome Powell suggested that there may be a "couple" more rate hikes in the coming months, depending on the state of the economy. The rate increase is expected to impact various financial markets, and could lead to higher borrowing costs for consumers and businesses.
