Move comes after Trump nominated Kevin Warsh as Fed chair and said US should have lowest rates in the world
The US Federal Reserve voted to raise interest rates on Wednesday for the first time since 2023 as the central bank continues to fight to tamp down inflation.
The Fed’s open market committee voted unanimously to raise its benchmark interest rate by a quarter-percentage point to a range of 3.75% to 4%. This is the first time the Fed has raised rates since July 2023 and potentially sets Kevin Warsh, the current Fed chair, on a collision course with Donald Trump.
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This article was originally published by The Guardian and written by Gaya Gupta.
Read original article on The Guardian