{
  "id": 7865828,
  "title": "Dow tumbles after Fed raises interest rates for first time since 2023",
  "url": "https://urgent.news/2026/09/16/dow-tumbles-after-fed-raises-interest-rates-for-first-time-since-2023",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-09-16T20:25:39.000Z",
  "source": {
    "name": "CBS News",
    "slug": "cbs-news",
    "url": "https://www.cbsnews.com/video/dow-tumbles-fed-raises-interest-rates-first-time-2023/"
  },
  "original_language": "en",
  "account": null,
  "summary": "The Dow Jones closed down around 1.2% on Wednesday after the Federal Reserve announced its first interest rate increase since July 2023, according to CBS News. The US stock market had pared some early gains following the announcement.\n\nThe Federal Reserve raised the interest rate range by 0.25% to 3.75%-4%, as reported by The Economic Times. The Fed chair, Kevin Warsh, stated that the strengthening of the US economy and geopolitics pushing inflation higher were key reasons for the rate hike.\n\nThe Fed's decision was made in a 12-0 vote, with the federal funds rate expected to rise to 4.1 percent at the end of this year, according to Yonhap News. The increase aims to get the nation's high inflation under control.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 4,
    "also_reported_by": [
      {
        "outlet": "FXStreet",
        "title": "Fed raises 2026 interest rate forecast to 4.1%, lifts PCE inflation projections",
        "url": "https://urgent.news/2026/09/16/fed-raises-2026-interest-rate-forecast-to-4-1-lifts-pce-inflation",
        "published": "2026-09-16T18:58:33.000Z"
      },
      {
        "outlet": "ABC News AU",
        "title": "US Fed hikes interest rates to curb inflation in move likely to rile Trump",
        "url": "https://urgent.news/2026/09/16/us-fed-hikes-interest-rates-to-curb-inflation-in-move-likely-to-rile",
        "published": "2026-09-16T19:15:28.000Z"
      },
      {
        "outlet": "The Block",
        "title": "Bitcoin, ether swing after unanimous quarter-point Fed rate hike as Warsh takes aim at inflation",
        "url": "https://urgent.news/2026/09/16/bitcoin-ether-swing-after-unanimous-quarter-point-fed-rate-hike-as",
        "published": "2026-09-16T20:02:16.000Z"
      }
    ]
  },
  "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."
}