The Federal Reserve raises interest rates by a quarter-point

OAN Alicia Summers
1:47 PM – Wednesday, May 3, 2023

The Federal Reserve has raised interest rates by a quarter-point, marking the10th consecutive rate hike and moving the benchmark rate to a range of 5% to 5.25%, the highest in 16 years. Meanwhile, lawmakers are facing gridlock over the approaching debt ceiling. While Republicans have proposed spending cuts, Democrats are refusing to negotiate. Could this lead to a potential default by Democrats on America? Matthew Johnson, the President of Johnson Wealth and Income Management, joins OAN’s Alicia Summers to discuss.

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