EconomyFed raises key rate for first time in 3 years, defying Trump calls for a cut

Name: Fed raises key rate for first time in 3 years, defying Trump calls for a cut
Uploaded: 2026-09-17T02:29:26.000Z
Description: Federal Reserve Chair Kevin Warsh announced a quarter-point increase in the benchmark rate to about 3.9% on Wednesday, citing persistent inflation. The first hike since 2023 could raise mortgage and auto-loan costs, as Americans face high living expenses just seven weeks before the midterm elections.

Federal Reserve Chair Kevin Warsh announced a quarter-point increase in the benchmark rate to about 3.9% on Wednesday, citing persistent inflation. The first hike since 2023 could raise mortgage and auto-loan costs, as Americans face high living expenses just seven weeks before the midterm elections.

The Associated Press 2026-09-17 02:29