US Central Bank Raises Interest Rates Amid Rising Costs

The United States Federal Reserve has increased interest rates for the first time since the year 2023. Officials took this step as inflation remains high and stubborn across the country. Warsh noted during a meeting recap that inflation is still too high, pushing the central bank to hike rates despite pressure. This move marks the first rate increase by the US central bank in three years, defying Donald Trump as inflation mounts.