Fed Raises Rates 25 Basis Points, Signals Another Hike This Year
- On Wednesday, the Federal Reserve raised its benchmark interest rate by a quarter percentage point to a range of 3.75% to 4.00%, marking the central bank's first rate increase since the summer of 2023.
- Fed Chair Kevin Warsh cited persistent inflation as the primary driver for the hike, emphasizing that consumer prices rose 3.4% year-over-year in August and remain well above the central bank's 2 percent goal.
- The Guardian reported that inflation has dampened consumer outlook, with hourly earnings decreasing by 0.3% from the month prior; most credit cardholders will see variable rates increase by a quarter-point within the coming months.
- President Donald Trump is on a "collision course" with the Federal Reserve after posting on Truth Social that the country should have "the lowest interest rates in the world," also threatening to cut off trade.
- Officials estimate at least one more rate hike is coming before the end of the year, potentially pushing rates up to 4.5%, while 30-year fixed mortgage rates reached 6.76% despite Treasury Secretary Scott Bessent ordering government bond buybacks.
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256 Articles
Fed raises interest rates for first time in 3 years, battling persistent inflation • West Virginia Watch
WASHINGTON — The Federal Reserve raised interest rates Wednesday for the first time in three years as inflation continues to dog the economy, largely driven by soaring gas and fuel oil prices while the war in Iran drags on.
The US central bank raised its key interest rate by a quarter of a percentage point due to inflation and indicated that another hike could follow by the end of the year.
Fed Raises Key Rate for First Time in Years
The Federal Reserve has hiked its key interest rate for the first time in more than three years, delivering a quarter-point rise despite President Trump's call for lower rates. The Fed announced Wednesday that its key rate is laughing to a range of 3.75%-4%. The Fed, which is under...
Federal Reserve hikes key interest rate for first time in 3 years, defying Trump’s demand for cut - The Boston Globe
The quarter-point increase lifts the Fed’s key rate to about 3.9 percent and, over time, could result in higher borrowing costs for mortgages, auto loans, and credit cards.
The central bank of the United States decided on Wednesday unanimously to raise its interest rates in order to calm inflation, a measure expected by the financial markets but fought by President Donald Trump.
US Federal Reserve raises interest rates for 1st time in 3 years, defying Trump
The Federal Reserve raised interest rates by a quarter point, with Kevin Warsh backing the unanimous move. The decision signalled more tightening ahead as inflation stayed elevated and markets watched for Warsh's next steps.
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