Fed raises rates for first time since 2023, bond yields break 5%

The Federal Open Market Committee met on Wednesday and raised interest rates by a quarter-point, the first hike since 2023 and the first under Chair Kevin Warsh.

The move lifted bond yields above the 5% threshold and pushed crude oil prices higher, signaling renewed confidence in the U.S. Economy.

The committee voted unanimously, and Warsh delivered a concise press conference. Marketplace host Kai Ryssdal discussed the week with Catherine Rampell and Heather Long.

Read the full story at marketplace.org.