U.S. Interest Rates
Fed Hikes, More on Table
The waiting is over. On Wednesday, the Federal Reserve raised its benchmark interest rate by a quarter percentage point, bringing the target range to 3.75%–4.00%. It was the central bank's first rate increase in more than three years, and the vote was unanimous — a notable show of unity after three officials had pushed for a hike back in July. Chairman Kevin Warsh pointed to three factors behind the decision: a strong economy and labor market, inflation that stayed elevated over the summer, and geopolitical developments that have pushed energy prices higher.









