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Fed Defies Trump with Surprise Rate Hike

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The Federal Reserve has raised interest rates for the first time since 2023, defying the expectations of US President Donald Trump.

The rate hike was unexpected by many, including Mr. Trump, who had been urging the Fed to keep rates low to boost economic growth.

The decision marks a significant shift in monetary policy, with the Fed aiming to combat inflation and stabilize the economy.

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