@cbsla: The Federal Reserve raised interest rates for the first time since 2023 on Wednesday, reversing course as the Iran war drives up global energy prices and fuels inflation. The Fed raised the federal funds rate by 0.25 percentage points, bringing its target range to between 3.75% and 4% — its highest level since December 2025. The benchmark rate influences borrowing costs across the U.S. economy, including for credit cards, auto loans and personal loans.

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Wednesday 16 September 2026 19:22:44 GMT