In an attempt to address the persistently high inflation in the world's largest economy, the US Federal Reserve increased interest rates by 25 basis points. The move was widely expected amid persistently high inflation driven by the with Iran and rising oil prices – but the decision risks enraging the US president, who has demanded rates be lowered. Key points and original sources are listed below.

• In an attempt to address the persistently high inflation in the world's largest economy, the US Federal Reserve increased interest rates by 25 basis points.S1

• The move was widely expected amid persistently high inflation driven by the with Iran and rising oil prices – but the decision risks enraging the US president, who has demanded rates be lowered.S2S3

• The Federal Reserve has raised interest rates for the first time in nearly three years as it intensifies its battle against stubbornly high inflation.S6

• The Fed raised its benchmark interest rate by a quarter point on Wednesday, the first hike since July 2023.S7

• The Federal Reserve on Wednesday issued its first interest-rate hike in three years, an effort to tamp down inflation that's expected to raise borrowing costs for Americans just ahead of the midterm elections.S8