Economy July 27, 2022 1:00 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 3:11 Ryan Gosling skips darker film roles because of Eva Mendes and daughters 2:15 Prince William and Kate Middleton ‘going through hell,' friend claims (report) 8:01 Lady Gaga's outfit changes, Rihanna's bold looks and more iconic Met Gala moments 2:48 Taylor Swift fans react to Jake Gyllenhaal and Sabrina Carpenter's ‘SNL' appearance 2:05 Whoopi Goldberg reveals who will inherit her fortune