Federal Reserve hikes key rate for 1st time in 3 years, defying Trump demands for a cut

The move comes as Americans are already struggling with high costs for groceries, gas, and housing. Affordability has taken on a leading role in the upcoming midterm elections, just seven weeks away.
READ NEXT
More on the wire
FROM THE PUBLISHER
And Washington Township parts ways with its schools superintendent.
FROM THE PUBLISHER
A surge in border crossings over the past decade reshaped America: Millions of people from more than 150 countries arrived, bringing the immigrant population to its highest levels
FROM THE PUBLISHER
The newest exhibit at the Barnes Foundation, open Sept. 20 to Jan. 27, 2027, explores the impact of World War II incarceration on six Japanese American artists like Isamu Noguchi, Ruth Asawa and S. Neil Fujita.