{
  "id": 7846383,
  "title": "Fed raises rates for the first time since 2023 in unanimous vote defying Trump",
  "url": "https://urgent.news/2026/09/16/fed-raises-rates-for-the-first-time-since-2023-in-unanimous-vote",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-09-16T18:25:58.000Z",
  "source": {
    "name": "Euronews",
    "slug": "euronews",
    "url": "https://www.euronews.com/business/2026/09/16/fed-raises-rates-for-the-first-time-since-2023-in-unanimous-vote-defying-trump"
  },
  "original_language": "en",
  "account": "The Federal Reserve raised interest rates for the first time since 2023 in a unanimous decision, defying President Donald Trump's wishes. All 12 voting members approved the move without dissent. This marked a significant shift, as three regional presidents had previously voted for an increase in July, while the administration had pushed for rate cuts. The Federal Open Market Committee maintained the target range at 3.5% to 3.75% since December, but the hike was expected. The statement was brief, with no forward guidance or hedging, and explicitly stated the committee's commitment to achieving a 2% inflation target. The Fed highlighted robust economic growth, resilient domestic spending, strong productivity growth, and robust capital investment. However, uncertainty remained due to geopolitical factors, particularly the Iran war. This decision came after months of building pressure, with three regional Fed presidents dissenting in July in favor of an increase. The Fed's preferred inflation gauge stood at 3.7% in June and July, with core inflation at 3.3%. Consumer prices rose by 0.4% in August, the sharpest monthly increase since May, driven by energy costs. The decision came despite President Trump's demand for lower interest rates and his previous support for Jerome Powell's leadership. The move also aimed to restore the perceived independence of the Federal Reserve as an institution. The new interest rates were set at 3.90% for reserve balances, 4% for the primary credit rate, and 4% for standing repurchase operations. The dot plot indicated that 12 of 18 officials expected another 0.25% hike by year-end, with rates reaching 4.375% by 2028.",
  "summary": "The Federal Reserve has raised its benchmark interest rate by a quarter point to a range of 3.75% to 4%, its first increase since July 2023, in a unanimous 12-0 vote that puts Chair Kevin Warsh directly at odds with the US president who appointed him.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 3,
    "also_reported_by": [
      {
        "outlet": "El Pais English",
        "title": "The Federal Reserve defies Trump with a unanimous rate hike six weeks before the midterms",
        "url": "https://urgent.news/2026/09/16/the-federal-reserve-defies-trump-with-a-unanimous-rate-hike-six-weeks",
        "published": "2026-09-16T18:23:41.000Z"
      },
      {
        "outlet": "Politico EU",
        "title": "US central bank hikes interest rates and signals more to come, defying Trump",
        "url": "https://urgent.news/2026/09/16/us-central-bank-hikes-interest-rates-and-signals-more-to-come-defying",
        "published": "2026-09-16T18:48:36.000Z"
      }
    ]
  },
  "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."
}