Fed is poised to raise interest rates for the first time since 2023, defying Trump
The Federal Reserve is expected to raise interest rates for the first time since 2023, a move that places Chair Kevin Warsh in direct opposition to the White House. The decision comes just weeks before the midterm elections, heightening political tensions.
Why it matters
It underscores the tension between independent monetary policy and political pressure during an election cycle.
Markets are pricing in a 92% probability of a quarter-point increase, which would put…
Also covering this story
5 other newsrooms covered this event. We read each version separately.
Federal Reserve is expected to raise its benchmark rate, defying Trump’s demands - AP News
Fed expected to hike interest rates for first time since 2023. See what it means for your money.
The Fed is expected to raise interest rates for the first time in 3 years
Warsh’s Arrival Ended Trump’s War With the Fed. A Rate Hike Would Test the Truce. - WSJ
Fed meeting live updates: Anticipation builds with Fed expected to hike interest rates for first time in 3 years
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