Brief by Shorts91 Newsdesk / 08:05pm on 16 Sep 2026,Wednesday International
The US Federal Reserve raised its benchmark interest rate by 0.25 percentage points on Wednesday, taking the target range to 3.75%-4%. It was the Fed’s first rate increase since July 2023. The decision was unanimous, with officials citing elevated inflation and saying the move would help bring price growth back towards the central bank’s 2% target. Fed Chair Kevin Warsh said inflation “is too high, and has been for too long.” The central bank also signalled that borrowing costs could remain higher as it assesses inflation and economic conditions. (PC: BBC)
