Forex
Federal Reserve Raises Interest Rate Amid Rising Inflation
The US Federal Reserve raised its benchmark interest rate by 0.25 percentage points to between 3.75% and 4.00%, citing persistently high inflation.
Federal Reserve Chairman Kevin Warsh, who took office in May, was asked about his message to President Donald Trump on the decision, but he laughed it off and explained that the rate rise was due to a stable labor market, full employment, and a robust economy.
This move is seen as a clear commitment to the independence of the institution, with Warsh distancing himself from Trump's preference for low interest rates.