{
  "id": 7841561,
  "title": "Fed raises rates for first time since 2023, sees one more hike this year",
  "url": "https://urgent.news/2026/09/16/fed-raises-rates-for-first-time-since-2023-sees-one-more-hike-this",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-09-16T18:25:01.000Z",
  "source": {
    "name": "Investing.com",
    "slug": "investing-com",
    "url": "https://www.investing.com/news/economy-news/fed-hikes-key-policy-rate-by-25-basis-points-as-widely-expected-4904237"
  },
  "original_language": "en",
  "account": "On Wednesday, the Federal Reserve raised its key interest rate for the first time since July 2023, taking a significant step in the ongoing fight against inflation. The Federal Open Market Committee (FOMC) unanimously decided to increase the federal funds rate to 3.75%-4.00% from 3.50%-3.75%. This move comes after a steady rise in expectations of more rate hikes this year, fueled by soaring inflationary concerns, a volatile U.S. bond market, and strong economic data indicating robust growth, a healthy labor market, and persistent inflation.\n\nSeveral FOMC members, including Beth Hammack from the Cleveland Fed, Neel Kashkari from the Minneapolis Fed, and Lorie Logan from the Dallas Fed, had previously opposed the central bank's decision to keep rates steady in July. Fed Chair Kevin Warsh had also expressed a hawkish stance during his speech at the Jackson Hole conference in August, warning that underlying inflation trends had not improved significantly.\n\nThe central bank's preferred inflation gauge, the personal consumption expenditures (PCE) price index, rose 3.7% year-over-year in August, well above the Fed's 2% long-term target. In fact, the PCE has remained above the 2% level for 65 consecutive months. Rising oil prices, driven by the ongoing conflict in the Middle East and growing tensions in the Gulf, have also contributed to the surge in inflation.\n\nDespite the Fed's decision, Wall Street welcomed the move, and the benchmark S&P 500 remained up 0.4% in response to the news. The U.S. 10-year yield, meanwhile, slipped 4.2 basis points to 4.954%. Analysts now turn their attention to Fed Chair Kevin Warsh's upcoming press conference at 14:30 ET (18:30 GMT).",
  "summary": null,
  "key_points": [
    "Federal Reserve raises key interest rate for first time since 2023.",
    "Federal Open Market Committee unanimously increases federal funds rate to 3.75%-4.00%.",
    "Inflation remains above 2% target for 65 consecutive months."
  ],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 3,
    "also_reported_by": [
      {
        "outlet": "The Hill",
        "title": "Fed hikes interest rates by quarter point",
        "url": "https://urgent.news/2026/09/16/fed-hikes-interest-rates-by-quarter-point",
        "published": "2026-09-16T18:01:44.000Z"
      },
      {
        "outlet": "Straits Times Business",
        "title": "US Fed hikes rates, sees more tightening in search of ‘timelier’ drop in inflation",
        "url": "https://urgent.news/2026/09/16/us-fed-hikes-rates-sees-more-tightening-in-search-of-timelier-drop-in",
        "published": "2026-09-16T18:20:08.000Z"
      }
    ]
  },
  "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."
}