Fed meeting updates: Warsh raises rates to 3.75%-4% as inflation persists
US Fed rate hike lifts rates to 3.75%-4% as Wall Street expects another increase in December amid stubborn inflation and rising oil prices.
On September 16, the US Federal Reserve increased its benchmark interest rate by 0.25 percentage point, reaching a range of 3.75% to 4%. This marked the first rate hike in three years and signaled the central bank's ongoing struggle against inflation in the US economy. Despite the increase, major US stock indices showed positive performance on the same day, with the S&P 500 up 0.4%, the Nasdaq Composite gaining 0.8%, and the Dow Jones Industrial Average remaining flat.
The 10-year US Treasury yield also decreased following the Fed's decision, falling nearly 5 basis points to 4.947%.
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