{
  "id": 7838084,
  "title": "Fed raises key interest rate by quarter point in 1st hike since July 2023",
  "url": "https://urgent.news/2026/09/16/fed-raises-key-interest-rate-by-quarter-point-in-1st-hike-since-july",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-09-16T18:02:23.000Z",
  "source": {
    "name": "Yonhap News",
    "slug": "yonhap-news",
    "url": "https://en.yna.co.kr/view/AEN20260917000300315"
  },
  "original_language": "en",
  "account": "The U.S. Federal Reserve increased its key interest rate by a quarter point on Wednesday, the first such hike since July 2023, in response to ongoing inflation and soaring oil prices. During the two-day Federal Open Market Committee (FOMC) meeting, the Fed opted to raise the rate to the 3.75-4.00 percent range, despite U.S. President Donald Trump's warning that he might cease trading with nations experiencing trade surpluses with the United States unless the central bank reduces interest rates. This move widened the gap between South Korea's and the U.S.'s key interest rates by up to 1 percentage point. Prior to the FOMC meeting, fresh data fueled apprehensions about price pressures. On Friday, the Bureau of Labor Statistics announced that the core consumer price index, which excludes food and energy costs, grew by 0.3 percent month-over-month, exceeding expectations by 0.1 percentage point. This week's interest rate hike proved a setback for Trump, as he had persistently urged the central bank to lower borrowing costs to stimulate the economy, particularly in the lead-up to the November midterm elections where control of Congress is at stake.",
  "summary": "WASHINGTON, Sept. 16 (Yonhap) -- The U.S. Federal Reserve raised its benchmark i...",
  "key_points": [
    "U.S. Federal Reserve raises interest rate by 0.25 percentage points",
    "First rate hike since July 2023 in response to inflation",
    "Fed sets rate between 3.75% and 4.00%"
  ],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 7,
    "also_reported_by": [
      {
        "outlet": "CoinDesk",
        "title": "Fed raises rates by 25 basis points in first hike since July 2023",
        "url": "https://urgent.news/2026/09/16/fed-raises-rates-by-25-basis-points-in-first-hike-since-july-2023",
        "published": "2026-09-16T17:54:55.000Z"
      },
      {
        "outlet": "Gulf News",
        "title": "Fed raises rates by 25 basis points, signals one more hike this year",
        "url": "https://urgent.news/2026/09/16/fed-raises-rates-by-25-basis-points-signals-one-more-hike-this-year",
        "published": "2026-09-16T18:09:17.000Z"
      },
      {
        "outlet": "Investing.com",
        "title": "Markets steady after Fed raises rates, points to another hike this year",
        "url": "https://urgent.news/2026/09/16/markets-steady-after-fed-raises-rates-points-to-another-hike-this-year",
        "published": "2026-09-16T18:18:35.000Z"
      },
      {
        "outlet": "The National UAE",
        "title": "US Fed raises interest rates: What does it mean for the UAE?",
        "url": "https://urgent.news/2026/09/16/us-fed-raises-interest-rates-what-does-it-mean-for-the-uae",
        "published": "2026-09-16T18:21:38.000Z"
      },
      {
        "outlet": "Yonhap News",
        "title": "(LEAD) Fed raises key interest rate by quarter point in 1st hike since 2023",
        "url": "https://urgent.news/2026/09/16/lead-fed-raises-key-interest-rate-by-quarter-point-in-1st-hike-since",
        "published": "2026-09-16T18:30:02.000Z"
      },
      {
        "outlet": "Fortune",
        "title": "The Fed unanimously agrees to hike interest rates for the first time since 2023, despite Trump’s call for the ‘lowest rates’ in the world",
        "url": "https://urgent.news/2026/09/16/the-fed-unanimously-agrees-to-hike-interest-rates-for-the-first-time",
        "published": "2026-09-16T18:33:02.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}