New Delhi, March 23 -- The US Federal Reserve has raised the federal funds rate for the ninth time in a row. The target range now is 4.75-5%, an increase of 25 basis points from the previous range. The idea is to raise interest rates in the overall economy. Why are they doing this? Mint weighs in:

The Fed has raised rates again. Why?

The federal funds rate is the interest rate at which banks lend money held by them in the Federal Reserve system to each other on an overnight basis. By increasing this rate, the Fed hopes to push up interest rates in the economy and in the process discourage consumption and investment. By discouraging consumption, the Fed hopes that less amount of money will chase goods and services. By discouraging invest...