Federal Reserve raises interest rates by a quarter point
PBS · September 16, 2026Original source ↗
What happened
The Federal Reserve raised interest rates by a quarter of a point, marking the first increase in three years. This decision comes as the ongoing conflict in Iran has been affecting market prices and is the first significant action taken by Fed Chair Kevin Warsh to address rising inflation.
Why it matters
This interest rate increase can impact borrowing costs for consumers and businesses, affecting economic activity.
How this story affects people
How does this story affect you if you are borrowing money for a car or home?
This interest rate increase will likely raise your borrowing costs, making loans more expensive. As a result, you may face higher monthly payments, which could impact your budget and spending.
How does this story affect you if you are a small business owner with variable-rate debt?
The increase in interest rates could lead to higher repayment costs on your loans, affecting your cash flow and ability to invest in your business. This may force you to reconsider your financial strategies and spending plans.
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