{
  "id": 7846251,
  "title": "US Federal Reserve hikes interest rates by 25 basis points; first time since 2023",
  "url": "https://urgent.news/2026/09/16/us-federal-reserve-hikes-interest-rates-by-25-basis-points-first-time",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-09-16T18:42:36.000Z",
  "source": {
    "name": "The Indian Express",
    "slug": "the-indian-express",
    "url": "https://indianexpress.com/article/business/world-market/us-federal-reserve-hikes-key-interest-rate-for-first-time-in-3-years-10881199/"
  },
  "original_language": "en",
  "account": "The U.S. Federal Reserve surprised many on Wednesday by raising its primary interest rate for the first time since 2023, a move aimed at tackling inflation that has remained excessively high. By increasing the benchmark rate by 25 basis points, the Fed has pushed the key rate to approximately 3.9%. This adjustment could lead to increased borrowing costs for various financial products such as mortgages, auto loans, and credit cards. The decision comes amid ongoing struggles faced by Americans, who are grappling with the rising prices of essential goods like groceries, gas, and housing. These affordability concerns have become a key talking point as the country gears up for the midterm elections, just seven weeks away. For the third time, the U.S. House of Representatives has voted to end the war in Iran, passing a war powers resolution that would prevent President Donald Trump from continuing military operations without explicit congressional approval. However, similar to previous attempts this summer, these resolutions have not reached the White House, where Trump is expected to veto them if they were to be sent.",
  "summary": null,
  "key_points": [
    "Federal Reserve raises interest rate by 25 basis points",
    "First increase since 2023, targeting inflation",
    "Key rate reaches 3.9%, impacting borrowing costs"
  ],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "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."
}