Federal Reserve raises interest rates for the first time in three years

LINCOLN, Neb. (KLKN) — Today, the Federal Reserve decided to raise interest rates to a 3.75% to 4% range for the first time since 2023.

Officials state “the plain fact is inflation is too high.”

“We cannot effect any individual price,” Federal Reserve Chair Kevin Warsh said. “Whether it be oil prices, whether it be food at the grocery store. What we can do and will do is ensure that any change in relative prices don’t broaden out.”