Fed Raises Interest Rates for First Time Since 2023
The Federal Reserve raised interest rates by a quarter percentage point this week, its first rate hike in more than three years, as policymakers respond to persistent inflation. The Federal Open Market Committee voted unanimously to raise the federal funds rate to a target range of 3.75% to 4%. The Fed had held rates at 3.5% to 3.75% since December 2025. The move follows several months of renewed inflation pressure. Consumer prices rose 3.4% in…