Fed raises rates to 3.75%-4.00% — the first hike since July 2023 — with a unanimous 12-0 vote.
Dot plot signals more pain ahead: 16 of 18 officials expect at least one more hike this year, with four seeing two more. Year-end 2026 rate forecast jumped to 4.1% from 3.8% in June.
Chair Warsh was blunt: "Inflation has been too high... for too long." He cited strong labor markets, stubborn prices, and Middle East tensions as the trifecta behind the...
