Kevin Warsh, Donald Trump’s pick for Fed chair, raises rates despite intense pressure from president
The ongoing US-Israel war against Iran, has driven up inflation, especially energy prices. Gas prices have remained, on average, $1 a gallon more expensive compared with a year ago. Diesel fuel, which is used for buses, trains and trucks, recently reached an all-time high of $6.31.
Concerns about inflation have induced a sell-off in the US bond market, with the yield on the 10-year treasury note hitting a 19-year high earlier this week, despite efforts from the US treasury to calm the market. Typically seen as one of the safest investment vehicles, trouble in the US bond market can lead to higher interest rates for consumer and business loans.
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Source link : https://www.theguardian.com/business/live/2026/sep/16/federal-reserve-interest-rate-increase-live-updates
Author : Lucy Campbell
Publish date : 2026-09-16 18:19:00
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