US central bank raises interest rates for first time in three years
Here’s why central banks raise interest ratespublished at 18:11 BST
Michael Race
Business and economics reporter in Washington DC
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Read MoreFederal Reserve raises interest rates to curb inflation, despite pressure from Trump
The Federal Reserve raised interest rates by a quarter of a point Wednesday, marking the first such increase in three years. The move came in the face of discouraging data on inflation and consumer prices that forced the hand of Fed Chairman Kevin Warsh just four months after Donald Trump appointed him.
The developments were not a foregone conclusion.
Read MoreLive updates: House will recess early; Federal Reserve board set to announce interest rates
House Republican leaders are cutting short the final legislative week before the midterm elections, announcing Wednesday that lawmakers will leave Washington after votes.
The move not only allows lawmakers to head home early for the campaign trail. It also means that lawmakers will not be forced to take a vote on impeaching Secretary of Defense Pete Hegseth before the elections.
Read MoreFederal Reserve hikes interest rates for first time since 2023 amid stubborn inflation
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Former Trump Treasury official Christina Skinner discusses the economic impact of a potential Fed rate hike and how President Donald Trump could respond.
This story about the September 2026 FOMC meeting will be updated with further details.
The Federal Reserve on Wednesday raised its benchmark interest rate for the first time in over three years amid concerns over stubborn inflation that has been driven recently by higher energy prices.
Read MoreWall Street just got bad news from the Federal Reserve
The U.S. stock market is having a decent year despite economic uncertainty created by the Iran conflict. The broad-based S&P 500 (^GSPC +1.35%) has advanced 11%, the technology-heavy Nasdaq Composite (^IXIC +2.01%) has added 14%,
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Read MoreThe Burst
Market Commentary: What’s Inside Buffett’s Portfolio?
In its latest 13F filing, Berkshire Hathaway bought and sold some stocks that paint a clear picture of what Buffett thinks the future of the economy will look like. Some old favorites he left untouched while others he sold off with abandon. Yet other stocks, he accumulated in spades.
What is Buffett buying and selling now?
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Read MoreThe Ivy
Will Zoom Beat The Market In Next 5 Years?
When the world needed to connect from home, Zoom didn’t disappoint. The video conferencing providers saw numbers skyrocket from 10 million in December 2019 to over 300 million in April 2020. Rocket-ship like growth highlighted Zoom’s capacity to scale and investors couldn’t buy enough of it.
Since then the stock has languished but maybe that’s about to change?
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