The Federal Reserve Bank of the USA has set the key interest rate at a range of 4.25% to 4.5%.
The significance of this decision is commented on by an expert: "The increase or decrease in the Federal Reserve's interest rates has a substantial impact on the national economy, as the rate of lending influences household spending, company investments, and mortgage loans."
Such decisions by the Federal Reserve are based on various factors, including the level of inflation, the level of unemployment, as well as the overall economic situation in the country.
