US Central Bank Fed Raises Interest Rates by 25 Basis Points
Raising interest rates for the first time since July 2023, the US Central Bank increased the federal funds rate to a range of 3.75 to 4.00 percent.
Following recently released strong core consumer inflation data and increases in oil prices, the US Central Bank Fed decided on a 25-basis-point interest rate hike at its meeting.
Details of the Interest Rate Decision
The US Central Bank Fed unanimously increased the federal funds rate by 25 basis points, bringing it to the range of 3.75 to 4.00 percent.
Inflation and Price Stability
Emphasizing that inflation remains high, the Fed expects this step to bring inflation to the 2 percent target in a shorter timeframe.
A First After a Long Time
With this decision, the US Central Bank has hiked interest rates for the first time since July 2023.
Upcoming Meeting Dates
Following Wednesday's meeting, the Fed's remaining meeting dates for 2026 were announced as October and December.