Federal Reserve Raises Interest Rates for First Time Since 2023
The central bank's open market committee voted unanimously to lift its benchmark rate by a quarter point to 3.75%-4%, citing efforts to curb inflation.
The US Federal Reserve voted on Wednesday to raise interest rates for the first time since 2023, according to The Guardian, as the central bank continues efforts to tamp down inflation.
The Fed's open market committee voted unanimously to raise its benchmark interest rate by a quarter-percentage point, bringing it to a range of 3.75% to 4%, the report said.
This marks the first rate increase by the Fed since July 2023, according to the report.
The move potentially sets Kevin Warsh, the current Fed chair, on a collision course with President Donald Trump, The Guardian reported, though further details on the nature of that disagreement were not included in the available report.
The Guardian noted it was providing live coverage of the Federal Reserve's decision and its aftermath.
Sources
- US Federal Reserve raises interest rates for the first time since 2023 — The Guardian — World
EGazette summarizes reporting from multiple sources; follow the links for the originals.
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