US Fed raises interest rates as Kevin Warsh bucks Donald Trump to control inflation
The US Federal Reserve raised the benchmark federal funds rate to a range of 3.75% to 4% on Wednesday, marking its first hike since July 2023. This move aims to support a return to the 2% inflation goal amid rising inflation concerns. Investors anticipate another rate hike by year-end, with a press conference by Kevin Warsh scheduled for 2:30 pm today.