The Federal Reserve has raised U.S. interest rates by half a percentage point — the largest such increase since 2000. Fed Chair Jerome Powell said Wednesday the widely anticipated interest rate hike would help the U.S. economy beat back inflation, which is at a 40-year high. A comparatively low U.S. unemployment rate has led employers to raise wages to attract new workers, while disruptions to supply chains caused by the pandemic and Russia’s invasion of Ukraine continue to push prices higher.