BREAKING: Fed Hikes Key Rate For The First Time in 3 years, Defying Trump Demands For a C

The FOMC has raised the federal funds rate by 0.25 percentage points to a range of 3.75% to 4%. While the U.S. economy shows resilience in spending, investment, and employment, inflation remains too high. The rate hike aims to ensure a timelier return to the 2% inflation target and maintain price stability amidst ongoing geopolitical uncertainty and persistent price pressures.