The Federal Reserve on Wednesday hiked rates for the first time in three years, an effort to tamp down inflation that drew a muted rebuke from President Trump as the midterms approach.
In a unanimous vote, the Fed raised rates by a quarter point to the 3.75% to 4% range – the first move in rates under Warsh, whom Trump hand-picked after lambasting predecessor Jerome Powell for years for not lowering interest rates fast enough.
“The plain fact is that inflation is too high and has been for too long,” Warsh said at a press conference following the vote.
“Today’s action starts to show that we’re serious about this.”
Read more at https://nypost.com/2026/09/16/business/fed-hikes-interest-rates-for-first-time-since-2023-in-bid-to-tamp-down-inflation/
#feds #interesthike
The New York Post is your source for breaking news, news about New York, sports, business, entertainment, opinion, real estate, culture, fashion, and more.
Check out our three new podcasts:
NYNext (week): https://www.youtube.com/@nynext1
Pod Force One with MIranda Devine (weekly): https://www.youtube.com/@PodForce1
NY POSTcast (daily): https://www.youtube.com/@NYPOSTcast
Get The Post’s latest headlines everyday with our Morning Report newsletter:
https://tinyurl.com/NYPOSTSIGNUP
Catch the latest news at http://www.nypost.com.
Follow The New York Post on:
Twitter - https://twitter.com/nypost
Facebook - https://www.facebook.com/NYPost