The Fed is expected to raise interest rates for the first time in 3 years
Chronological coverage
First seen11h agoThe Fed is expected to raise interest rates for the first time in 3 years
The Fed is widely expected to raise its benchmark interest rate to combat stubborn inflation. That could make it more expensive to borrow money to buy a car or carry a balance on a credit card.
NPR•Scott Horsley
Follow-up11h agoFederal Reserve expected to raise interest rates for the first time since 2023
The consequential move arrives less than two months before the midterm elections.
ABC News
Follow-up4h agoTraders expect Fed to raise interest rates for first time in 3 years
Kevin Warsh under pressure to tame stubbornly high inflation in move that could draw the ire of Donald Trump weeks out from US midterm elections
Financial Times
Follow-up2h agoUS Federal Reserve votes to hike rates for the first time since 2023
Move comes after Trump nominated Kevin Warsh as Fed chair and said US should have lowest rates in the world The US Federal Reserve voted to raise interest rates on Wednesday for the first time since 2023 as the central bank continues to fight to tamp down inflation. The Fed’s open market committee voted unanimously to raise its benchmark interest rate by a quarter-percentage point to a range of 3.75% to 4%. This is the first time the Fed has raised rates since July 2023 and potentially sets Kevin Warsh, the current Fed chair, on a collision course with Donald Trump. Continue reading...
The Guardian•Gaya Gupta
Follow-up2h agoFederal Reserve raises interest rates for first time since July 2023 – live
Kevin Warsh, Donald Trump’s pick for Fed chair, raises rates despite intense pressure from president The ongoing US-Israel war against Iran , has driven up inflation, especially energy prices . Gas prices have remained, on average, $1 a gallon more expensive compared with a year ago. Diesel fuel, which is used for buses, trains and trucks, recently reached an all-time high of $6.31. Concerns about inflation have induced a sell-off in the US bond market , with the yield on the 10-year treasury note hitting a 19-year high earlier this week, despite efforts from the US treasury to calm the market. Typically seen as one of the safest investment vehicles, trouble in the US bond market can lead to higher interest rates for consumer and business loans. Continue reading...
The Guardian•Lucy Campbell- Latest2h ago
Fed defies Trump, raises US interest rates for first time in three years
The move was widely expected amid persistently high inflation driven by the Iran war and rising oil prices – but the decision risks enraging the US president, who has demanded rates be lowered.
The Sydney Morning Herald•Michael Koziol
