Fed raises rates for the first time since 2023

The Federal Reserve raised its benchmark interest rate a quarter point on Sept. 16, to a range of 3.75% to 4%, its first increase since 2023. The vote was 12-0. In a brief statement, policymakers said the economy is expanding at a solid pace, inflation remains elevated and the increase will support a timelier return to their 2% goal. Projections released the same day showed 16 of 18 officials expecting another increase this year; Chair Warsh did not submit a projection. The Fed's discount rate for bank borrowing rose to 4%.

The wall: projection tables unread; next meeting date; consumer effects

Tier: Confirmed (decision confirmed; projections and 'first since 2023' reported)

Sources

• federalreserve.gov/monetarypolicy/files/monetary20260916a1.pdf
• am.jpmorgan.com/us/en/asset-management/institutional/insights/portfolio-insights/fixed-income/fixed-income-perspectives/fomc-statement-september-2026/
• cnbc.com/2026/09/16/fed-rate-decision-september-2026.html

economy, business and finance federal

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