Federal Reserve hikes key rate for 1st time in 3 years, defying Trump demands for a cut
The Federal Reserve raised its benchmark interest rate on Wednesday for the first time in three years to address persistent inflation. This move defies demands from President Trump for a rate reduction and is expected to create tension between the central bank and the White House.
The Federal Reserve raised its benchmark interest rate Wednesday for the first time since 2023 in an effort to quell stubbornly-high inflation, a move that could spur a sharp response from the White House
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