A conflict that began with missiles over the Persian Gulf arrived Wednesday afternoon at American banks.
At 2:00 p.m. Eastern on Wednesday, the Federal Reserve raised interest rates for the first time in more than three years.
A quarter point. The target range moved to 3.75% to 4.00%.
The vote was unanimous, 12 to 0.
On paper, a small technical adjustment.
In practice, the clearest sign yet that the world's most important central bank has run out of patience with an inflation problem it cannot fully control.
The Hike