Federal Reserve Raises Interest Rates for First Time Since 2023
The Federal Reserve's Federal Open Market Committee voted unanimously on Wednesday to raise its benchmark interest rate by a quarter-percentage point, the first increase since 2023, under new Fed Chair Kevin Warsh. Coverage largely agrees on the facts of the decision and its rationale, though some outlets emphasize the political friction with President Trump, who has pushed for lower rates, while others focus on the practical effects for consumers and borrowers.
The Federal Reserve's Federal Open Market Committee (FOMC) voted unanimously on Wednesday, September 16, 2026, to raise its benchmark interest rate by a quarter-percentage point, moving the target range to 3.75% to 4%. This marked the first rate increase since July 2023 and the first policy decision under new Fed Chair Kevin Warsh. The move was driven by efforts to combat resurgent inflation, which several reports linked to rising energy prices and consumer costs. The rate hike is expected to raise borrowing costs for consumers, including on auto loans and credit card balances, while offering higher returns for savers. The decision drew criticism from within the Trump administration: White House adviser Peter Navarro publicly called the move "a bad decision." President Trump has repeatedly urged the Fed to lower rates, particularly with midterm elections approaching, setting up a notable divergence between the administration's preferences and the central bank's action under Warsh's leadership. The decision is final and already in effect, with no indication of an imminent reversal. Reports differ in emphasis: some frame the hike primarily as a economic policy response to inflation, while others highlight it as a political flashpoint given Trump's public pressure campaign for lower rates ahead of the midterms. It remains unresolved how the Fed under Warsh will navigate future rate decisions amid continued political pressure, and the longer-term effects on inflation and the broader economy have not yet been determined.
SOURCE COMPARISON
How the coverage differs
The Fed just threw a wrench in Trump's midterm economic message
Kevin Warsh's first rate hike as Fed chair defies President Donald Trump's repeated push for lower borrowing costs ahead of midterm elections.
Read original report ↗What to know about the Fed’s decision.
Read original report ↗Peter Navarro says Fed's rate raise is 'a bad decision'
White House adviser Peter Navarro on Wednesday blasted the Federal Reserve's move to raise interest rates in several years, calling it "a bad decision." The central bank’s Federal Open Market Committee (FOMC), led by Fed Chair Kevin Warsh, voted unanimously to increase the central bank’s benchmark interest rate to a range of 3.75 percent to 4 percent. Warsh...
Read original report ↗Federal Reserve raises interest rates for the first time since 2023
The Fed increased its benchmark rate by 0.25 percentage points to battle resurgent inflation driven by soaring energy prices.
Read original report ↗What the Fed rate hike likely means for you
Bad news for borrowers, good news for savers.
Read original report ↗US Federal Reserve raises interest rates for the first time since 2023
Trump urges lower rates after central bank agrees increase by quarter-percentage point to range of 3.75% to 4% The US Federal Reserve voted to raise interest rates on Wednesday for the first time since 2023 as the central bank continues to fight to tamp down inflation. The Fed’s open market committee voted unanimously to raise its benchmark interest rate by a quarter-percentage point to a range of 3.75% to 4%. This is the first time the Fed has raised rates since July 2023 and potentially sets Kevin Warsh, the current Fed chair, on a collision course with Donald Trump. Continue reading...
Read original report ↗The Fed raises interest rates for the first time in over three years
The Federal Reserve raised its benchmark interest rate Wednesday to combat stubborn inflation. That will make it more expensive to borrow money to buy a car or carry a balance on a credit card.
Read original report ↗Federal Reserve Poised to Raise Interest Rates: What to Know
With inflation and consumer prices on the rise, Wednesday’s meeting of the Federal Reserve is being closely watched to see what the board will signal about interest rates, now and into the future. NBC’s Brian Cheung joins TODAY to break down how the Fed is expected to raise interest rates for the first time since 2023 and for the first time under newly minted chairman Kevin Warsh.
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