The has raised its benchmark lending rate for a 10th consecutive time, as it pushes to fight while seeking to prevent fresh banking concerns from spreading. As was widely expected, the US central bank announced another quarter-point rate increase on Wednesday, bringing the benchmark interest rate to a range of 5 percent to 5.25 percent.It could be the final increase before the Fed pauses its rate hikes, as policymakers attempt to balance their inflation fight against concerns about the impact of high rates on the economy and the banking sector.
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