Federal Reserve Chairman Jerome Powell announces raised interest rates

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The Federal Reserve voted Wednesday to raise interest rates by one-quarter of a percentage point, in the central bank’s first policy meeting led by its new chairman, Jerome "Jay" Powell. The move marks the first rate hike for 2018, bringing the benchmark interest rate to a range of 1.5 percent to 1.75 percent due to a "strengthened" economic outlook.

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Last Updated: Thursday, October 1, 2026 at 04:46 PM
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