The Fed raises rates by 25 basis points to 3.75 as Bitcoin approaches $76,000 and officials project another increase in 2026.

The Fed raises rates by 25 basis points to 3.75 as Bitcoin approaches $76,000 and officials project another increase in 2026.

The Federal Reserve delivered the hike Wall Street had almost unanimously priced in. Here's how markets, Trump, and crypto reacted.

The Federal Reserve delivered the hike Wall Street had almost unanimously priced in. Here's how markets, Trump, and crypto reacted.

The Federal Reserve delivered the hike Wall Street had almost unanimously priced in. Here's how markets, Trump, and crypto reacted.

WASHINGTON - The Federal Reserve raised interest rates on Wednesday for the first time in more than three years after the job market’s August rebound eased concerns about the labor market, while inflation remains above the 2% target and high energy prices add more pressure to the economy. Key facts - The Fed raised its benchmark federal funds rate by a quarter percentage point to 3.75%-4%, marking the first increase since July 2023 and a major test for Federal Reserve Chair Kevin Warsh, whose decision went against Trump’s wish for lowered interest rates. - All 12 members of the Federal Open Market Committee supported the decision. - Higher oil and gas prices are adding another inflation pressure, making it hard for the Fed to bring prices down without risking slowing the economy. - The Fed voted 9-3 to keep rates unchanged at July’s meeting, meaning three dissented in favor of a hike even ahead of August’s inflation data, after which market forecasts immediately raised the probability of a hike to 53%, which…

The Federal Reserve raised interest rates by a quarter point, with Kevin Warsh backing the unanimous move. The decision signalled more tightening ahead as inflation stayed elevated and markets watched for Warsh's next steps.

"Our decision comes at a time when the economy appears to be strengthening," Fed chairman Kevin Warsh said at a press conference on Wednesday.  | Economy

The Federal Reserve raised its benchmark interest rate Wednesday for the first time since 2023 in an effort to quell stubbornly-high inflation.

In a set of quarterly projections, the Fed also signaled that its rate-setting committee expects to hike rates a second time later this year to 4.1%.