Fed Defies Trump: Key Interest Rate Hiked for First Time in Three Years

The U.S. Federal Reserve has surprised markets by hiking its key interest rate for the first time in three years, despite President Trump's opposition.

The Fed, led by Chairman Jerome Powell, raised the target range for the federal funds rate by a quarter of a percentage point to between 1.5% and 1.75%

This move is expected to have significant implications for the U.S. economy, with some analysts warning that it could slow down growth.