Federal Reserve Chairman Kevin Warsh delivers remarks following the Federal Open Market Committee meeting on Wednesday.
The Federal Reserve on Wednesday approved its first interest rate hike in more than three years and indicated another to come, as part of an effort aimed at combating inflation brought on by spiraling oil prices and other factors.
In a move that markets widely anticipated, the central bank’s Federal Open Market Committee voted 12-0 to increase its key interest rate by a quarter percentage point, or 25 basis points. The move brought the overnight funds rate to a target range of 3.75%-4%.
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Chairman Kevin Warsh speaks after Federal Reserve raises interest rate by 25 bps — 9/16/2026