The Federal Reserve announced earlier Wednesday it would raise interest rates by 0.25 percentage points, which pushes rates to 3.75 percent to 4 percent after the two-day September meeting. It was a unanimous 12-0 vote for the monetary policy rate to increase.<\/p>\n\n\n\n
This was the first increase in rates since 2023. Federal Reserve Chair Kevin Warsh began his press conference noting economic activity is expanding at a solid pace. Warsh also said domestic spending has been resilient, job gains have kept pace, and the unemployment rate has changed little, despite geopolitical developments.<\/p>\n\n\n\n
Inflation still remains above the committee\u2019s 2 percent goal.<\/p>\n\n\n\n
\u201cToday\u2019s policy action will support a timelier return to the Committee\u2019s 2 percent goal,\u201d Warsh said. \u201cThis Committee will deliver price stability.\u201d<\/p>\n\n\n\n