The Federal Reserve raised its benchmark interest rate by a quarter percentage point on Wednesday, bringing its target range to 3.75% to 4%. The decision came less than two weeks after an August jobs report showed 162,000 new payroll jobs and an unemployment rate holding at 4.1%. Together, the announcements describe an economy that is still creating opportunities, even as inflation keeps pressure on household budgets and business decisions.
The Fed said economic activity was expanding at a solid
