What does the Federal Reserve mean by raising interest rates

To understand this concept, let's first understand the benchmark interest rate of a country(region)When conducting deposit taking, loan disbursement, interbank lending and other businesses, interest rates must be set first. However, due to the different situations of each bank, it is necessary for the central bank to establish a unified reference standard for interest rates, which is the benchmark interest rate. It is stored(loan)The standard lines for interest rates such as loan interest rates and interbank lending rates, and the central bank's interest rate hike, such as the Federal Reserve's interest rate hike, is essentially raising the benchmark interest rate.