Economy July 27, 2022 4:00 pm Federal Reserve Raises Interest Rate by 0.75% in Bid to Curb Inflation The Federal Reserve announced Wednesday that they have raised the benchmark interest rate by 0.75% to curb high inflation. US & World Videos 1:20 Gigi Hadid wows in sweeping Met Gala look 1:52 Amanda Seyfried reveals her kids' reaction to her daring metallic Met Gala look 1:34 Nicole Kidman floored over Olivia Rodrigo's AMC ad tribute 3:45 Gabrielle Union and Dwyane Wade's daughter had cutest reaction to mom's Met Gala dress 1:12 Ariana Grande channels Glinda at 2024 Met Gala