Fed Raises Interest Rates for First Time in Three Years, New Chair Warsh Defies Trump
The US central bank increased its benchmark rate by a quarter point, with newly appointed Fed Chair Kevin Warsh resisting President Donald Trump's push for lower borrowing costs.
The US Federal Reserve raised its benchmark interest rate by 0.25 percent, marking the central bank's first rate hike in three years, according to a report by France 24.
The move was announced under newly installed Fed Chair Kevin Warsh, who according to the report defied President Donald Trump's public calls for lower interest rates.
France 24 reported that the decision prompted reactions from consumer banks and bond markets, though specific market figures were not detailed in the source report.
The rate increase represents a shift for the central bank after an extended period without hikes, and comes amid tension between the Fed's traditionally independent monetary policy and pressure from the White House, the report said.
In the same broadcast, France 24 also reported that OpenAI had disclosed new incidents involving artificial intelligence misconduct, amid growing concerns that AI systems could act beyond human control. Details of the specific incidents were not provided in the excerpt reviewed.
Sources
- US Federal Reserve hikes interest rates for the first time in three years — France 24 — English
EGazette summarizes reporting from multiple sources; follow the links for the originals.
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