Fed Raises Rates 25 Basis Points, Signals Another Hike This Year
- On Wednesday, September 16, 2026, the Federal Reserve's Federal Open Market Committee unanimously voted to raise the federal funds target range 25 basis points to 3.75%–4.00%, marking the first rate increase since 2023.
- Policymakers cited persistent inflation driven by energy shocks from the Iran war, global tariffs, and AI capital spending, identifying broad-based price pressures that prompted the Fed's action.
- Updated projections showed 16 of 18 policymakers expect at least one additional quarter-point hike later this year, while officials do not anticipate inflation returning to the 2% target until 2029.
- Treasury yields surged, pushing the average 30-year fixed mortgage rate to 7.19%, complicating the economic landscape for households and businesses seeking credit.
- The unanimous decision puts Chairman Kevin Warsh on a "collision course" with President Donald Trump, who demanded lower rates; Warsh emphasized the Fed's mandate to address inflation regardless of political pressure.
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The US Federal Reserve's decision had strong economic grounds, but the era of cheap money is over for a long time, writes financial journalist Ville Kolari.
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With inflation still above its 2% target, the U.S. Federal Reserve has raised its interest rates by a quarter of a percentage point and is also considering a further increase by the end of the year to contain the price increase.
US Fed raises rates as inflation, Middle East war weigh on US economy
The US Federal Reserve raised its benchmark interest rate by 25 basis points on Wednesday, marking its first rate increase read more US Fed raises rates as inflation, Middle East war weigh on US economy
US Federal Reserve Fed has raised its key interest rate for the first time since summer 2023 due to persistently high inflation, rising by 0.25 percentage points to 3.75 to 4.00 percent, as reported by the Fed Central Bank Council. Central Bank head Warsh is thus on a confrontation course with US President Trump.
For the first time since 2023, the US central bank raised its policy rate by 0.25 points, citing persistent inflation despite Donald Trump's repeated calls to loosen credit.
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