A television displays news of the US Federal Reserve's interest rate hike as traders work on the floor of the New York Stock Exchange (NYSE) in New York on September 16, 2026. (Photo by TIMOTHY A. CLARY / AFP)
Washington, United States: The US Federal Reserve raised interest rates by 25 basis points Wednesday, its first hike in three years as the central bank battles high inflation with a move sure to anger President Donald Trump.
The Fed's Federal Open Market Committee voted unanimously to raise rates to between 3.75 percent and 4.00 percent, citing "elevated" inflation. It added that the rate hike would support a "timelier return" to its two-percent target for the metric.
