Fed Raises Rates
The Federal Reserve raised rates for the first time since 2023 despite Trump's calls for cuts.
16 left27 center22 right
Updated Sep 16, 10:06pm ETEvery side, every morning
A free recap of the day’s biggest stories and how each side covered them.
What happened
The Federal Reserve unanimously raised its benchmark federal funds rate by 0.25 percentage points, setting a target range of 3.75% to 4.0%. It was the Fed’s first rate increase since July 2023. Fed Chair Kevin Warsh said inflation remains too high after years above target, while the economy can handle tighter credit. Renewed price pressure from the Iran war and higher energy costs helped drive the decision. President Donald Trump demanded rates of 1% or less, saying higher borrowing costs hurt investment. Warsh said Fed independence works both ways. Treasury yields rose immediately, raising pressure on consumer loans. Fed projections show another hike may come this year.
How each side covered it
From the left
The hike was framed as a necessary stand against stubborn inflation despite political pressure. CNN said the Fed’s rate move underscored its concern over prices, while Vox read it as a rebuke showing Trump’s bid to control the central bank had failed. Slate blamed Trump’s Iran war and tariffs for helping force the Fed’s hand, and The Daily Beast cast his response as an angry meltdown over demands for lower rates and dubious economic claims.
From the right
Right-leaning accounts led with inflation and a sturdy economy rather than institutional confrontation. Fox Business emphasized elevated prices tied to higher energy costs. The New York Post highlighted Trump’s case for far lower rates and his continued confidence in Warsh. The Daily Caller focused on costlier household borrowing, while noting savers could benefit modestly.
Headlines
Left16
The Guardian · Sep 16US Federal Reserve raises interest rates for the first time since 2023
HuffPost · Sep 16Federal Reserve Expected To Raise Interest Rates For First Time In Three Years
Al Jazeera · Sep 16What to know about US Federal Reserve’s first interest rate hike in 3 years
Daily Beast · Sep 16Trump Crashes Out at His Own Fed Pick’s Stunning Blow
Vox · Sep 16Trump’s failed Fed takeover
Center27
CNBC · Sep 16Fed meeting recap: Warsh says inflation is still too high as Fed hikes for the first time since 2023
NBC News · Sep 16Fed raises interest rates for first time since 2023, defying Trump as inflation mounts
CBS News · Sep 16Federal Reserve raises interest rates for the first time since 2023
NPR · Sep 16The Fed raises interest rates for the first time in over three years
Business Insider · Sep 16The Fed hiked rates for the first time in years. Here's what smart people in economics say comes next.
Right22
Breitbart News · Sep 16Trump Says Interest Rates Should Be 1% or Less After Fed's Hike
Washington Examiner · Sep 16Trump rips 'hostile' Fed board after interest rate hike but defends Warsh
Fox Business · Sep 16Federal Reserve hikes interest rates for first time since 2023 amid stubborn inflation
The Daily Wire · Sep 16Trump Rips Fed Rate Hike But Gives Kevin Warsh A Pass
RedState · Sep 16Update: Trump Responds As You'd Expect to Fed's Latest Action on Interest Rates
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