Why the Fed Just Raised Rates (the First Hike Since 2023)
On September 16, 2026, America's central bank raised its main interest-rate target by a quarter of a percentage point, to a range of 3.75 to 4 percent. It was the Fed's first increase since July 2023, and the vote was 12 to zero.
By the end of the drive you'll know what the Fed changed and its stated reasons for moving now; how the change can reach variable-rate credit cards, home equity lines and new car loans; why rates on new fixed mortgages tend to follow the ten-year Treasury yield rather than move one-for-one with the Fed; how little the national average savings rate changed over a year…
The skinny
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