Feds Raise Interest Rates – Defy President Trump

In an effort to curb inflation that picked up again last month, the Federal Reserve hiked benchmark interest rates for the first time since 2023. The Fed’s flagship rate now ranges from 3.75% to 4.00% after a 0.25% increase.

Although President Trump has been calling for lower interest rates for months, the rate increase was unanimously approved by the Fed’s policymakers, who also hinted that another rate increase would occur before the year is out.

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