Fed Delivers First Rate Hike Since 2023, Unanimous 25 bps Move to 3.75%-4%
The US Federal Reserve raised its benchmark rate by 25 basis points to 3.75%-4.00% on September 16, its first hike since July 2023. The vote was unanimous. Policymakers flagged still-elevated inflation and said the move supports a quicker return to the 2% goal.