Fed Raises Rates as Trump-Era Inflation Fails to Budge

The US Federal Reserve raised interest rates by ¼ of a percentage point to the 3.75 to 4 per cent range on September 16, in an effort to control inflation.

New Fed chief Kevin Warsh joined the unanimous decision, despite his initial selection by President Donald Trump with expectations that he would cut rates.

The rate increase was expected but investors will now focus on further information from Warsh about what might prompt additional increases in borrowing costs.