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FILE. Federal Reserve Board Chairman Kevin Warsh speaks during a news conference in Washington, 29 July 2026

Video. Fed hikes rates for the first time since 2023 in unanimous vote

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The Federal Reserve has raised its benchmark interest rate by a quarter point to a range of 3.75% to 4%, its first increase since July 2023, in a unanimous 12-0 vote that puts Chair Kevin Warsh directly at odds with the US president who appointed him.

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