The US Federal Reserve raised its benchmark interest rate by a quarter-percentage point to a range of 3.75% to 4% on Wednesday, its first hike since 2023, as it battles high inflation. The move sets up a potential confrontation with President Donald Trump, who has repeatedly called for lower rates. Fed Chair Kevin Warsh said inflation remains too high, while Trump responded on Truth Social that rates should be 1% or less.
The Federal Reserve raised interest rates for the first time in more than three years on Wednesday, lifting the federal funds rate by 25 basis points to a range of 3.75%-4%. US stocks closed mostly lower, with the Dow Jones Industrial Average falling 631.33 points, or 1.21%, to 51,461.78. Fed Chair Kevin Warsh said inflation is too high and has been for too long, while policymakers projected one additional quarter-point increase this year.
The Federal Reserve raised its benchmark interest rate by a quarter point on Wednesday, the first increase since July 2023, as inflation remains elevated at 3.4%. The unanimous vote lifts the federal funds target range to 3.75%-4%. Policymakers projected one more hike this year. Chair Kevin Warsh, nominated by President Donald Trump, now presides over a central bank tightening policy despite Trump's calls for lower rates.
Confidence among US homebuilders fell three points to 32 in September, the lowest in a year and matching the weakest level since late 2022, according to the NAHB/Wells Fargo Housing Market Index. Mortgage rates near 7%, labor shortages and rising material costs are weighing on the market, with 38% of builders cutting prices and 66% using sales incentives.
Inflation in the United Kingdom climbed to a five-month high in August, driven by higher pump prices and airfares linked to the Iran war, official data showed Wednesday. The consumer prices index reached 3.1%, up from 2.9% the previous month and further above the Bank of England's 2% target. Rate-setters are expected to hold the main rate at 3.75% on Thursday, though the increase may harden their hawkish stance and keep the door open to higher rates later this year.
UK inflation rose to 3.1% in August, up from 2.9% in July, as motor fuel prices surged 23% year-on-year due to the Iran war. Petrol prices reached their highest since November 2022, and diesel also climbed. The Bank of England is expected to hold rates at 3.75% on Thursday, but markets anticipate a hike in November. Economists warn of potential second-round effects, with inflation possibly nearing 4%.
Asian equities struggled for direction on Wednesday as traders awaited an expected Federal Reserve interest rate increase, the first since 2023. With inflation well above target and Middle East tensions keeping crude above $100 a barrel, policymakers are widely tipped to tighten. A dip in oil prices offered modest support, while a planned Trump-Xi summit and possible tariff cuts kept markets cautious.
US and China discuss cutting tariffs on American energy and agricultural products ahead of a leaders' summit on Sept. 24 in Washington, potentially easing pressure on the global economy.
The Federal Reserve is scheduled to announce its next interest rate decision on Wednesday, a choice that will shape borrowing costs for households and businesses across the United States. The timing was confirmed in a brief report, which offered no indication of which way policymakers will move. Investors, lenders and consumers are watching closely for signals about the cost of credit.
The European Central Bank has invited online and mobile merchants to join a digital euro pilot, starting in the second half of 2027, to test technical functionality and user experience, with the goal of shaping the digital euro's technical specifications.
Markets expect a rate hike at the Fed's meeting, with 93% odds, due to 3.4% inflation and spiking Treasury yields, but questions remain about Fed chair Warsh's next steps amid political pressure from President Trump.
The Federal Open Market Committee begins its meeting on Tuesday, with a decision expected Wednesday. The fed funds target range is 3.50 to 3.75 percent, and the effective rate trades at 3.63 percent. The 10-year Treasury yield hit 5.041 percent, its highest since 2007. Some analysts argue a rate hike could restore the Fed's inflation-fighting credibility and ease upward pressure on long-term yields.
Wall Street futures slid Tuesday, with oil prices surging amid Middle East fighting and bond yields at their highest in 19 years, prompting expectations of a Federal Reserve interest rate hike.
The US 10-year Treasury yield briefly touched 5.011% on Monday, its highest since October 2023, before retreating below 5%. The move came as rising energy prices revived inflation concerns and expectations grew that major central banks will keep interest rates higher for longer. The sell-off spread to Europe, with French, Italian and German yields rising. Attention now turns to central bank decisions from the Fed, Bank of England and Bank of Japan.
Dominion Energy and NextEra Energy have proposed building a new office tower on a vacant downtown Richmond lot if their $67 billion merger wins approval. The companies also pledged larger residential bill credits and a five-year job guarantee. Governor Abigail Spanberger has intervened, demanding affordable energy and worker protections, while Mayor Danny Avula calls the promises encouraging but says his office will keep monitoring the process.
Gold prices held steady on Tuesday after touching a more than one-month low, as investors awaited the U.S. Federal Reserve's policy decision for clues on the future path of monetary policy. Spot gold was little changed at $4,300.96 per ounce, while U.S. gold futures slipped 0.3% to $4,341.10. Markets expect the Fed to raise rates by a quarter point to 3.75%-4.00% on Wednesday, with Chair Kevin Warsh's framing of the hike seen as key for gold and risk assets.
The September 2026 Federal Open Market Committee meeting could deliver the year's first rate change, and investors are watching Fed Chair Kevin Warsh, who has offered less forward guidance, for clues. An analysis of decisions from December 1999 through July 2026 found the S&P 500 averaged a 0.23% gain on decision days and finished positive 52.6% of the time. Reactions depend on context, expectations and messaging more than the rate move itself.
U.S. stocks rebounded Friday, with the S&P 500 climbing 0.9% to end a four-day losing streak, as Brent crude dropped 2.8% to $104.61 and a key inflation report matched economists' expectations. The Dow added 509 points and the Nasdaq rose 1%. Consumer prices were 3.4% higher than a year earlier, reinforcing expectations that the Federal Reserve will raise interest rates at its meeting next week.
The Federal Reserve wraps up its two-day meeting Wednesday and may raise its benchmark interest rate to fight inflation that has held above 3%, driven by the U.S. war with Iran and its disruption of the Strait of Hormuz. Wall Street will also get August retail sales figures. President Donald Trump has pressured the central bank to cut rates instead, which could boost the economy but worsen inflation.
Anthropic is expected to be one of the most sought-after IPO stocks, and after SpaceX reached a $2 trillion valuation, investors are asking what the AI company could be worth later this year. Waiting for shares to list is not the only option. Three routes offer early exposure: buying companies that already hold stakes in Anthropic, using brokerages that allow pre-IPO orders, and following Anthropic's spending into AI infrastructure and components.
Fed Raises Rates, Setting Up Clash With Trump
The US Federal Reserve raised its benchmark interest rate by a quarter-percentage point to a range of 3.75% to 4% on Wednesday, its first hike since 2023, as it battles high inflation. The move sets up a potential confrontation with President Donald Trump, who has repeatedly called for lower rates. Fed Chair Kevin Warsh said inflation remains too high, while Trump responded on Truth Social that rates should be 1% or less.
Fed Raises Rates First Time in Over Three Years, Stocks Slide
The Federal Reserve raised interest rates for the first time in more than three years on Wednesday, lifting the federal funds rate by 25 basis points to a range of 3.75%-4%. US stocks closed mostly lower, with the Dow Jones Industrial Average falling 631.33 points, or 1.21%, to 51,461.78. Fed Chair Kevin Warsh said inflation is too high and has been for too long, while policymakers projected one additional quarter-point increase this year.
Fed Raises Rates for First Time Since 2023 as Inflation Persists
The Federal Reserve raised its benchmark interest rate by a quarter point on Wednesday, the first increase since July 2023, as inflation remains elevated at 3.4%. The unanimous vote lifts the federal funds target range to 3.75%-4%. Policymakers projected one more hike this year. Chair Kevin Warsh, nominated by President Donald Trump, now presides over a central bank tightening policy despite Trump's calls for lower rates.
US Homebuilder Confidence Falls to 32 as Mortgage Rates Near 7%
Confidence among US homebuilders fell three points to 32 in September, the lowest in a year and matching the weakest level since late 2022, according to the NAHB/Wells Fargo Housing Market Index. Mortgage rates near 7%, labor shortages and rising material costs are weighing on the market, with 38% of builders cutting prices and 66% using sales incentives.
UK Inflation Hits Five-Month High on Iran War Fuel Costs
Inflation in the United Kingdom climbed to a five-month high in August, driven by higher pump prices and airfares linked to the Iran war, official data showed Wednesday. The consumer prices index reached 3.1%, up from 2.9% the previous month and further above the Bank of England's 2% target. Rate-setters are expected to hold the main rate at 3.75% on Thursday, though the increase may harden their hawkish stance and keep the door open to higher rates later this year.
UK Inflation Hits 3.1% as Fuel Costs Surge
UK inflation rose to 3.1% in August, up from 2.9% in July, as motor fuel prices surged 23% year-on-year due to the Iran war. Petrol prices reached their highest since November 2022, and diesel also climbed. The Bank of England is expected to hold rates at 3.75% on Thursday, but markets anticipate a hike in November. Economists warn of potential second-round effects, with inflation possibly nearing 4%.
Asian Stocks Wobble Ahead of Fed Rate Decision
Asian equities struggled for direction on Wednesday as traders awaited an expected Federal Reserve interest rate increase, the first since 2023. With inflation well above target and Middle East tensions keeping crude above $100 a barrel, policymakers are widely tipped to tighten. A dip in oil prices offered modest support, while a planned Trump-Xi summit and possible tariff cuts kept markets cautious.
US and China Near Tariff Cuts Ahead of Leaders' Summit
US and China discuss cutting tariffs on American energy and agricultural products ahead of a leaders' summit on Sept. 24 in Washington, potentially easing pressure on the global economy.
Fed Set to Announce Interest Rate Decision Wednesday
The Federal Reserve is scheduled to announce its next interest rate decision on Wednesday, a choice that will shape borrowing costs for households and businesses across the United States. The timing was confirmed in a brief report, which offered no indication of which way policymakers will move. Investors, lenders and consumers are watching closely for signals about the cost of credit.
ECB Opens Digital Euro Pilot to Merchants
The European Central Bank has invited online and mobile merchants to join a digital euro pilot, starting in the second half of 2027, to test technical functionality and user experience, with the goal of shaping the digital euro's technical specifications.
Fed Rate Hike Looms as Markets Weigh History
Markets expect a rate hike at the Fed's meeting, with 93% odds, due to 3.4% inflation and spiking Treasury yields, but questions remain about Fed chair Warsh's next steps amid political pressure from President Trump.
Why a Fed Rate Hike Could Help Homebuyers
The Federal Open Market Committee begins its meeting on Tuesday, with a decision expected Wednesday. The fed funds target range is 3.50 to 3.75 percent, and the effective rate trades at 3.63 percent. The 10-year Treasury yield hit 5.041 percent, its highest since 2007. Some analysts argue a rate hike could restore the Fed's inflation-fighting credibility and ease upward pressure on long-term yields.
Wall Street Futures Slip as Oil and Bond Yields Climb
Wall Street futures slid Tuesday, with oil prices surging amid Middle East fighting and bond yields at their highest in 19 years, prompting expectations of a Federal Reserve interest rate hike.
US 10-Year Treasury Yield Breaches 5% as Global Bond Sell-Off Deepens
The US 10-year Treasury yield briefly touched 5.011% on Monday, its highest since October 2023, before retreating below 5%. The move came as rising energy prices revived inflation concerns and expectations grew that major central banks will keep interest rates higher for longer. The sell-off spread to Europe, with French, Italian and German yields rising. Attention now turns to central bank decisions from the Fed, Bank of England and Bank of Japan.
Dominion and NextEra Offer New Richmond Tower in Merger Bid
Dominion Energy and NextEra Energy have proposed building a new office tower on a vacant downtown Richmond lot if their $67 billion merger wins approval. The companies also pledged larger residential bill credits and a five-year job guarantee. Governor Abigail Spanberger has intervened, demanding affordable energy and worker protections, while Mayor Danny Avula calls the promises encouraging but says his office will keep monitoring the process.
Gold Steadies Ahead of Fed Decision as Yields Hit 5%
Gold prices held steady on Tuesday after touching a more than one-month low, as investors awaited the U.S. Federal Reserve's policy decision for clues on the future path of monetary policy. Spot gold was little changed at $4,300.96 per ounce, while U.S. gold futures slipped 0.3% to $4,341.10. Markets expect the Fed to raise rates by a quarter point to 3.75%-4.00% on Wednesday, with Chair Kevin Warsh's framing of the hike seen as key for gold and risk assets.
Fed Decision Day: What History Says About Stock Moves
The September 2026 Federal Open Market Committee meeting could deliver the year's first rate change, and investors are watching Fed Chair Kevin Warsh, who has offered less forward guidance, for clues. An analysis of decisions from December 1999 through July 2026 found the S&P 500 averaged a 0.23% gain on decision days and finished positive 52.6% of the time. Reactions depend on context, expectations and messaging more than the rate move itself.
Wall Street Rebounds as Oil Eases and Inflation Data Meets Forecasts
U.S. stocks rebounded Friday, with the S&P 500 climbing 0.9% to end a four-day losing streak, as Brent crude dropped 2.8% to $104.61 and a key inflation report matched economists' expectations. The Dow added 509 points and the Nasdaq rose 1%. Consumer prices were 3.4% higher than a year earlier, reinforcing expectations that the Federal Reserve will raise interest rates at its meeting next week.
Fed Decision Looms as Inflation Stays Above 3%
The Federal Reserve wraps up its two-day meeting Wednesday and may raise its benchmark interest rate to fight inflation that has held above 3%, driven by the U.S. war with Iran and its disruption of the Strait of Hormuz. Wall Street will also get August retail sales figures. President Donald Trump has pressured the central bank to cut rates instead, which could boost the economy but worsen inflation.
Three Ways to Gain Anthropic Exposure Before Its IPO
Anthropic is expected to be one of the most sought-after IPO stocks, and after SpaceX reached a $2 trillion valuation, investors are asking what the AI company could be worth later this year. Waiting for shares to list is not the only option. Three routes offer early exposure: buying companies that already hold stakes in Anthropic, using brokerages that allow pre-IPO orders, and following Anthropic's spending into AI infrastructure and components.
