The Federal Reserve has raised US interest rates for the first time in over three years, a move aimed at combating persistent inflation. The decision was unanimous among Fed policymakers, despite opposition from President Donald Trump.

• Interest rates were increased to 3.75%-4%, up from 3.5%-3.75%.
• Fed Chair Kevin Warsh cited that "inflation is too high and has been for too long" as the reason for the hike.
• This is the first rate increase since July 2023, with further hikes anticipated by the Fed.