"Inflation Is Still Winning" - The Fed Raises Rates for the First Time Since 2023

The Federal Reserve just raised interest rates by a quarter point (25 basis points) to a target range of 3.75%–4%, its first rate hike since 2023. Under new Fed Chair Kevin Warsh, the central bank went against what markets, borrowers, and Washington were expecting, citing inflation that still hasn't been brought under control.