The Fed decided on interest rates in the USA

The FOMC raised interest rates by 25 basis points, marking the first increase since July 2023. The decision was made with a 10 to 2 vote, acknowledging persistent inflation. Future changes in monetary policy will be considered after the upcoming midterm elections and inflation data. The Fed's assessment of economic growth improved from 'solid' to 'strong', with dynamic investments and job growth. Concerns about inflation are heightened ahead of the elections, impacting the Republican Party's control in Congress. Investors anticipate further rate hikes to combat inflation, starting in December.