As Fed Raises Rates by a Quarter Point, Here’s Where Financial Advisors Are Telling Their Clients to Invest—and Store—Their Money

The Federal Reserve boosted its influential interest rate yet again Wednesday, even as more signs indicate that inflation is cooling.

It hiked the benchmark’s key rate by a quarter of a basis point, bringing it to the 4.5%–4.75% range. One basis point is equal to one hundredth of a percentage point.