Key Points The FOMC just voted 12-0 to increase the federal funds rate. This is the first time the Fed has raised rates in over three years. Several artificial intelligence (AI) hyperscalers have issued debt over the last year. 10 stocks we like better than Nvidia › The Federal Reserve just did something it hasn't done since July 2023. The Federal Open Market Committee (FOMC) voted 12-0 to raise the federal funds rate by a quarter point, to a range of 3.75% to 4%. New Chairman Kevin Warsh framed the move as overdue: Inflation remains too high, and the committee wants a faster path back to its long-term goal of 2%.
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