Morning Business Report: Foods banks to serve more people as inflation squeezes budget

The Federal reserve raised its benchmark overnight interest rate by half a percent point.

Food banks are serving more people again as inflation squeezes budgets. Demand increased from 25% to 45% since December according to Forgotten Harvest.

During COVID, car insurance premiums went down since far fewer people were driving.

Head of 1-800 Flowers expects people to spend money on flowers for Mother’s Day even though they are more expensive.