Fed Raises Interest Rates For First Time Since July 2023
The unanimous vote followed recent signs of division among Fed officials as they weighed inflation and employment data.
- On Wednesday, September 16, 2026, the Federal Reserve announced a unanimous decision to raise interest rates by 25 basis points to a target range of 3.75% to 4.00%, marking the first increase since July 2023.
- The unanimous vote set aside recent disagreements among Fed officials over monetary policy outlook as consumer prices emerged as the week's primary economic news.
- Borrowing costs will rise almost immediately, with credit card APRs and HELOCs climbing, though fixed-rate loans like mortgages remain unchanged during their existing terms.
- Consumers carrying credit card debt should prioritize paying down balances ASAP, with balance transfer cards offering a strategy to pause interest charges temporarily.
- With the national average savings account paying just 0.38% APY, according to Motley Fool Money research, top accounts offer over 10 times higher returns, rewarding savers in the rising-rate environment.
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Fed raises rates by 25 bps in first hike since 2023
The Federal Reserve has raised its benchmark interest rate by 25 basis points to 3.75%–4%, delivering its first increase since July 2023 as inflation and energy costs remain elevated. Fed rate hike receives unanimous FOMC support The Federal Reserve said…
The 25 basis point increase brings the central bank's key interest rate to a range of 3.75%-4%. The post Fed hawkish – First interest rate hike since 2023 appeared first on in.gr.
The US Federal Reserve (Fed) raised its benchmark interest rate by a quarter of a percentage point to a range of 3.75 percent to 4.00 percent, as expected, at the end of a two-day meeting of its monetary policy committee. The decision was unanimous, with all 12 members of the committee voting in favor.
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