{
  "id": 7896847,
  "title": "US Fed raises rates to tackle 'too high' inflation, irking Trump",
  "url": "https://urgent.news/2026/09/16/us-fed-raises-rates-to-tackle-too-high-inflation-irking-trump-7896847",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-09-16T23:28:14.000Z",
  "source": {
    "name": "New Straits Times",
    "slug": "new-straits-times",
    "url": "https://www.nst.com.my/business/corporate/2026/09/1534431/us-fed-raises-rates-tackle-too-high-inflation-irking-trump"
  },
  "original_language": "en",
  "account": "The US Federal Reserve abruptly raised interest rates on Wednesday for the first time since 2023, ignoring President Donald Trump's call for rate cuts. Federal Reserve Chair Kevin Warsh emphasized the urgent need to tackle inflation, which has been \"too high\" and \"for too long.\" The Fed's decision was unanimous, with most policymakers indicating an additional rate hike before the year's end. Trump, who has frequently clashed with the Fed, labeled the decision a \"raise against Trump\" and accused the committee of acting politically. The US president has been attempting to fire Fed governors and investigate the previous chair's predecessor in an effort to lower rates and spur economic activity. The Fed's decision comes amid growing calls for a rate increase, as energy prices remain elevated due to the ongoing Iran war. The Consumer Price Index for August came in at 3.4%, unchanged from July but still well above the Fed's two-percent target. Analysts noted that inflation has forced the Fed's hand, as price pressures remain too elevated and persistent for policymakers to ignore. Meanwhile, US stock markets largely anticipated the rate hike but saw a decline in response, reflecting normal adjustments by investors.",
  "summary": "WASHINGTON: The US Federal Reserve on Wednesday raised interest rates for the first time since 2023, defying President Donald Trump’s demand for cuts, as central bank chief Kevin Warsh stressed the need to combat inflation that has been “too high” for “too long.”",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 9,
    "also_reported_by": [
      {
        "outlet": "CNBC",
        "title": "Fed raises rates: What it means for your credit cards, mortgages, savings accounts and auto loans",
        "url": "https://urgent.news/2026/09/16/fed-raises-rates-what-it-means-for-your-credit-cards-mortgages",
        "published": "2026-09-16T19:17:38.000Z"
      },
      {
        "outlet": "The Sydney Morning Herald",
        "title": "ASX set to slump, Wall Street falls as Warsh speaks after Fed raises rates",
        "url": "https://urgent.news/2026/09/16/asx-set-to-slump-wall-street-falls-as-warsh-speaks-after-fed-raises",
        "published": "2026-09-16T19:44:07.000Z"
      },
      {
        "outlet": "The Age",
        "title": "ASX set to slump, Wall Street falls as Warsh speaks after Fed raises rates",
        "url": "https://urgent.news/2026/09/16/asx-set-to-slump-wall-street-falls-as-warsh-speaks-after-fed-raises-7855642",
        "published": "2026-09-16T19:44:07.000Z"
      },
      {
        "outlet": "FXStreet",
        "title": "The Japanese Yen gives back more of its rally as the Fed raises rates",
        "url": "https://urgent.news/2026/09/16/the-japanese-yen-gives-back-more-of-its-rally-as-the-fed-raises-rates",
        "published": "2026-09-16T21:18:26.000Z"
      },
      {
        "outlet": "Free Malaysia Today",
        "title": "US Fed raises rates to tackle ‘too high’ inflation, irking Trump",
        "url": "https://urgent.news/2026/09/16/us-fed-raises-rates-to-tackle-too-high-inflation-irking-trump",
        "published": "2026-09-16T21:40:13.000Z"
      },
      {
        "outlet": "Seeking Alpha News",
        "title": "Gold and silver turn lower after Fed raises rates as expected",
        "url": "https://urgent.news/2026/09/16/gold-and-silver-turn-lower-after-fed-raises-rates-as-expected",
        "published": "2026-09-16T21:45:19.000Z"
      },
      {
        "outlet": "RTHK News - Finance",
        "title": "US Fed raises rates by 0.25pc to battle inflation",
        "url": "https://urgent.news/2026/09/16/us-fed-raises-rates-by-0-25pc-to-battle-inflation",
        "published": "2026-09-16T22:44:47.000Z"
      },
      {
        "outlet": "The Jakarta Post",
        "title": "US Fed raises rates to tackle 'too high' inflation, irking Trump",
        "url": "https://urgent.news/2026/09/16/us-fed-raises-rates-to-tackle-too-high-inflation-irking-trump-7896706",
        "published": "2026-09-16T23:31:27.000Z"
      }
    ]
  },
  "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."
}