Fed Raises Rates for First Time Since 2023, Defying Trump — SkimNews
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- The Federal Reserve raised interest rates for the first time since 2023, a move NBC framed as defying Trump as inflation mounts.
- Markets responded with a stronger dollar and rising yields as CNBC framed the hike as reverberating across global markets.
Why it matters: The Fed's first hike since 2023, taken while Trump pushed against it and with prices still climbing, shows the central bank willing to risk political blowback for price stability. A stronger dollar and rising US yields tighten financial conditions worldwide, and CNBC reports the Bank of England is defying the Fed's lead despite its own rising inflation.
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