The Federal Reserve on Wednesday raised its benchmark interest rate by a quarter of a point, but opened the door to a long-awaited pause in the most aggressive tightening campaign since the 1980s. 

The unanimous decision puts the key benchmark federal funds rate at a range of 5% to 5.25%, the highest since 2007, from near zero a little more than one year ago. It marks the 10th consecutive rate increase aimed at combating high inflation.

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