The Fed raised interest rates for the first time since 2023, unanimously lifting the policy rate to the 3.75-4% range. The bank raised its year-end rate expectation to 4.1%, with 16 of 18 officials projecting at least one more hike this year.
The decision came after the Fed, which last raised rates in July 2023, cut them by 75 basis points last year. The Fed raised its 2026 inflation forecast to 3.7% and growth forecast to 2.3%. It said the economy was growing solidly and employment gains were keeping pace with the labor force.
UEL
