What to know

• 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