Fed hikes rates despite recession fears

(The Hill) - The Federal Reserve voted to raise interest rates Wednesday by another 0.25 percentage points, brushing aside concerns about the financial sector and an expected recession later this year.The Fed's rate-setting committee voted Wednesday to boost its baseline interest rate to a range of 5 to 5.25 percent, the point where Fed officials expected in March to stop hiking rates, according projections from the Fed's last meeting.The latest rate hike is the tenth in a row since the Fed bega