BREAKING: Federal Reserve drops 4th 0.75% interest rate hike of year & hints at future pullback

U.S. Federal Reserve System increases base interest rate to 3.75-4%

The U.S. Federal Reserve System acting as the national central bank has increased the base interest rate by 75 basis points to the level of 3.75-4% per annum, the Federal Open Market Committee (FOMC) said Wednesday after the meeting.