Fed chair raises interest rates by 0.25% despite opposition from President Trump
BBC · September 17, 2026Original source ↗
What happened
The Federal Reserve increased interest rates by 0.25%. This decision was made despite President Trump's calls for rates to be lowered.
Why it matters
This decision impacts borrowing costs for individuals and businesses, affecting the economy.
How this story affects people
How does this story affect you if you are shopping for a mortgage?
This rate increase will raise borrowing costs for mortgages, making home loans more expensive. As a result, you may face higher monthly payments or be priced out of the housing market.
How does this story affect you if you are a small business owner with variable-rate debt?
The increase in interest rates will raise your borrowing costs, impacting your ability to finance operations or expansions. This could lead to tighter budgets and potential cutbacks on hiring or investment.
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