The Fed pushed up its main interest rate 4.25 percentage points, to 5.25%, in the mid-2000s. Rates climbed 3.5 percentage points in the late 1990s to 6.5%.
The Federal Reserve on Wednesday cut its benchmark interest rate by a quarter percentage point, the first cut since the 2008 financial crisis. The new short-term range will be between 2% and 2.25%.
· The Federal Reserve raised interest rates for the third time this year. The decision, which was expected, is a sign of increased confidence in the US.
Fed officials said they would increase their benchmark federal-funds rate to a range between 1.5% and 1.75% and penciled in a total of three rate increases for this year, one less than some market.