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Federal Reserve hikes key rate for 1st time in 3 years, defying Trump demands for a cut

Federal Reserve hikes key rate for 1st time in 3 years, defying Trump demands for a cut

The Federal Reserve raised its benchmark interest rate Wednesday for the first time since 2023 in an effort to quell stubbornly-high inflation, a move that could spur a sharp response from the White House
ReutersReuters
Fed raises rates in search of 'timelier' drop in inflation, sees more tightening ahead

Fed raises rates in search of 'timelier' drop in inflation, sees more tightening ahead

By Howard Schneider WASHINGTON, Sept 16 (Reuters) - The Federal Reserve raised interest rates on Wednesday and flagged more hikes in the coming months, with new U.S. central bank chief Kevin Warsh joining a unanimous decision that effectively acknowledges the Trump administration's inability so far
AP NewsAP News
Federal Reserve is expected to raise its benchmark rate, defying Trump's demands

Federal Reserve is expected to raise its benchmark rate, defying Trump's demands

The Federal Reserve is widely expected to lift its short-term interest rate Wednesday for the first time in three years to fight stubbornly high inflation, a move that would put the central bank at odds with President Donald Trump’s demands
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Warsh likely to side with financial markets over Trump as Fed rate hike expected

Warsh likely to side with financial markets over Trump as Fed rate hike expected

Barely four months into the job, Federal Reserve Chair Kevin Warsh is stuck between two strong but opposing forces: Financial markets that anticipate the central bank will raise interest rates, and President Donald Trump, who wants the Fed to cut them or leave them unchanged
ReutersReuters
Fed hikes rates, sees more tightening in search of 'timelier' drop in inflation

Fed hikes rates, sees more tightening in search of 'timelier' drop in inflation

By Howard Schneider WASHINGTON, Sept 16 (Reuters) - The Federal Reserve raised interest rates on Wednesday and flagged further increases in borrowing costs in coming months, with new U.S. central bank chief Kevin Warsh joining a unanimous decision that effectively acknowledges the Trump
ReutersReuters
Morning Bid: Trump says hit that brake; no, not that one

Morning Bid: Trump says hit that brake; no, not that one

TOKYO, Sept 15 (Reuters) - A look at the day ahead in European and global markets from Satoshi Sugiyama. U.S.
Detroit Free PressDetroit Free Press
What the Fed's first rate hike in three years means for consumers

What the Fed's first rate hike in three years means for consumers

On Wednesday, Sept. 16, the Federal Reserve raised short term interest rates by a quarter of a percentage point. The vote was unanimous.
ReutersReuters
Short-term bond yields rise after Fed raises rates, points to another hike this year

Short-term bond yields rise after Fed raises rates, points to another hike this year

NEW YORK, Sept 16 (Reuters) -  The Federal Reserve raised interest rates on Wednesday and flagged further increases in borrowing costs in coming months, with new U.S. central bank chief Kevin Warsh joining a unanimous decision that effectively acknowledges the Trump administration's inability so far
AP NewsAP News
The Latest: Supreme Court rejects Trump mail ballot restrictions ahead of midterms

The Latest: Supreme Court rejects Trump mail ballot restrictions ahead of midterms

The Supreme Court has rejected President Donald Trump’s bid to restrict mail ballots for the midterm elections, capping a flurry of last-minute legal action with voting already underway
ReutersReuters
Fed hikes rates in search of 'timelier' drop in inflation, sees more tightening ahead

Fed hikes rates in search of 'timelier' drop in inflation, sees more tightening ahead

By Howard Schneider WASHINGTON, Sept 16 (Reuters) - The Federal Reserve raised interest rates on Wednesday and flagged further increases in borrowing costs in coming months, with new U.S. central bank chief Kevin Warsh joining a unanimous decision that effectively acknowledges the Trump
ReutersReuters
Warsh's words may matter more than the anticipated Fed rate hike

Warsh's words may matter more than the anticipated Fed rate hike

By Howard Schneider WASHINGTON, Sept 16 (Reuters) - The Federal Reserve is expected on Wednesday to hike interest rates for the first time since 2023, a decision driven by stubbornly high inflation and a global rise in borrowing costs that will heighten scrutiny of how U.S. central bank chief Kevin
ReutersReuters
Fed hikes rates, sees more tightening in search of 'timelier' drop in inflation

Fed hikes rates, sees more tightening in search of 'timelier' drop in inflation

By Howard Schneider WASHINGTON, Sept 16 (Reuters) - The Federal Reserve raised interest rates on Wednesday and flagged further increases in borrowing costs in coming months, with new U.S. central bank chief Kevin Warsh joining a unanimous decision that effectively acknowledges the Trump