The US Federal Reserve has raised interest rates for the first time in more than three years, as it tries to bring down inflation.
The Fed’s policy committee approved a 25 basis points increase, taking the benchmark rate to 3.75 per cent.
It says the move should help bring inflation down to its 2% target.
Federal reserve Chairman Kevin Warsh says the economy has largely been resilient despite global uncertainties.
Al Jazeera’s Eva Mckend reports from Washington, DC on how the interest rates are going to affect Americans.
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