Fed Interest Meeting: Kevin Warsh Raises Rates Despite Trump's Desires
Summary
The Federal Reserve, led by Chair Kevin Warsh, raised interest rates by 0.25% in September 2026, increasing the federal funds rate range to 3.75%-4.00%. This decision goes against President Donald Trump’s calls for lower borrowing costs to support the economy.Key Facts
- The Federal Reserve raised interest rates for the first time since 2023.
- The new interest rate range is 3.75% to 4.00%.
- The decision was made after a two-day meeting by the Federal Open Market Committee.
- Inflation remains above the Fed’s 2% target, partly due to higher energy prices.
- U.S. retail sales increased 1.2% in August, showing strong consumer demand.
- Kevin Warsh became Fed chair in 2026, nominated by President Trump.
- President Trump has repeatedly asked for lower interest rates, saying the U.S. should have the lowest rates in the world.
- The Fed sets rates independently, not the president.
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