Skip to content
The Piney Point

Federal Reserve hikes key rate for 1st time in 3 years, defying Trump demands for a cut

Federal Reserve hikes key rate for 1st time in 3 years, defying Trump demands for a cut
Photo: KPRC 2 / Click2Houston (NBC) · view original

The Federal Reserve raised its benchmark interest rate Wednesday for the first time since 2023 in an effort to quell stubbornly-high inflation, a move that could spur a sharp response from the White House. The quarter-point increase lifts the Fed’s key rate to about 3.9% and, over time, could re...

Sources and story details