Fed raises interest rates by 0.5%, warns of more increases | LiveNOW from FOX

The Federal Reserve reinforced its inflation fight by raising its key interest rate for the seventh time this year and signaling more hikes to come. But the Fed announced a smaller hike than it had in its past four meetings at a time when inflation is showing signs of easing. The Fed boosted its benchmark rate a half-point to a range of 4.25% to 4.5%, its highest level in 15 years. Economist Michael Szanto joins LiveNOW from FOX's Andy Mac to talk about the interest rate increase.