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US Fed raised interest rates by 25 basis points to 3.75-4.00 percent, citing “elevated” inflation and aiming for a “timelier return” to its two-percent target.
US Federal Reserve Chair Kevin Warsh speaks during a news conference in Washington. (AFP photo)
US Federal Reserve Chair Kevin Warsh on Wednesday said that bringing inflation under control is now the central bank’s main focus, hours after the central bank raised interest rates for the first time since 2023.
“Our predominant focus is on the price stability side of our mandate,” Warsh told a press conference after the rate decision. “The plain fact is that inflation is too high, and has been for too long.”
His remarks came after the Fed raised its benchmark interest rate by 25 basis points to a range of 3.75% to 4%, citing elevated inflation and saying the move would support a “timelier return” to its 2% inflation target.
‘Our Decision’, Not Markets’
Warsh also stressed that Wednesday’s rate decision was driven by the Fed’s own assessment rather than financial market expectations.
“We made this decision today based on our assessment of the situation,” he said. “I’ll observe market prices and see what they have to say. But today was our decision.”
Quick Answers
Ask News18The US Federal Reserve raised its benchmark interest rate by 25 basis points to a target range of 3.75% to 4%. This decision, announced on Wednesday, September 16, 2026, marks the central bank’s first interest rate hike since July 2023.
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