Federal Reserve Hikes Interest Rates Amid 'Sticky Inflation' Concerns

The Federal Reserve raised interest rates for the first time in three years, citing 'new world of sticky inflation and faster growth.'

Federal Reserve Board Chairman Kevin Warsh made the announcement on Wednesday, stating that the rate hike reflects the changing economic landscape.

President Donald Trump has previously criticized the Federal Reserve's decision-making, but Warsh emphasized the importance of maintaining low unemployment rates while also controlling inflation.