The Kevin Warsh-led FOMC raised the federal funds rate by 25 basis points to 3.75%-4.00% in a unanimous 12-0 vote — the first increase since 2023. Warsh said inflation "remains too high" and showed no meaningful improvement in underlying price pressures. 16 of 18 policymakers expect at least one more hike by year-end; the median projected rate is 4.1% by end-2026. The Dow Jones...
