{"id":627186,"date":"2026-09-17T05:22:11","date_gmt":"2026-09-17T05:22:11","guid":{"rendered":"https:\/\/www.newsbeep.com\/ie\/627186\/"},"modified":"2026-09-17T05:22:11","modified_gmt":"2026-09-17T05:22:11","slug":"federal-reserve-raises-rates-for-first-time-since-2023-the-irish-times","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/ie\/627186\/","title":{"rendered":"Federal Reserve raises rates for first time since 2023 \u2013 The Irish Times"},"content":{"rendered":"

The US<\/a> Federal Reserve<\/a> has raised rates for the first time since 2023 as chair Kevin Warsh<\/a> defied US president Donald Trump<\/a>\u2019s calls for lower borrowing costs and tries to curb the jolt of inflation sparked by the Iran war.<\/p>\n

The Federal Open Market Committee (FOMC) voted unanimously to increase the benchmark federal funds rate by a quarter point to a 3.75 per cent to 4 per cent range, in line with Wall Street\u2019s expectations.<\/p>\n

The FOMC said the rise \u201cwill support a timelier return\u201d of inflation to the Fed\u2019s 2 per cent target \u2013 a goal it has missed for 5\u00bd years. <\/p>\n

\u201cThe committee will deliver price stability,\u201d it added. <\/p>\n

The decision comes as Warsh and other rate-setters attempt to stop the boom in energy prices ignited by the Middle East conflict from morphing into a wider inflation crisis. The European Central Bank raised its rates last week.<\/p>\n

It comes just months before midterm elections in the US in which affordability will be a major issue among voters. Ahead of the meeting, investors had priced in a more than 90 per cent chance of a rate increase after the closely watched consumer price index reading for August signalled progress on returning inflation back to the Fed\u2019s goal had stalled. <\/p>\n

A fresh set of interest-rate projections, also published on Wednesday, indicated most of the committee anticipate another quarter-point rate rise before the end of the year. \u2013 Copyright The Financial Times Limited 2026<\/p>\n","protected":false},"excerpt":{"rendered":"The US Federal Reserve has raised rates for the first time since 2023 as chair Kevin Warsh defied…\n","protected":false},"author":2,"featured_media":627187,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[72,969,1961,61,60,66147],"class_list":["post-627186","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-business","tag-donald-trump","tag-federal-reserve","tag-ie","tag-ireland","tag-kevin-warsh"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/627186","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/comments?post=627186"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/627186\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media\/627187"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media?parent=627186"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/categories?post=627186"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/tags?post=627186"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}