Breaking News: The Federal Reserve raised interest rates by half a percentage point, its largest move since 2000, as it tries to tame rapid inflation. - HOT AIR BALLOON FLIGHT

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Breaking News: The Federal Reserve raised interest rates by half a percentage point, its largest move since 2000, as it tries to tame rapid inflation.

BREAKING NEWS

The Federal Reserve raised interest rates by half a percentage point, its largest move since 2000, as it tries to tame rapid inflation.

Wednesday, May 4, 2022 2:05 PM ET

The quick pullback of monetary help is a sign that the central bank is getting serious about cooling down the economy and job market as rapid inflation persists and as officials grow nervous that it could become more permanent.

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