1 of 1
Story summary
- Federal Reserve (Fed) Chair Kevin Warsh raised the federal funds rate to 3.75%-4.00%, the first increase since 2023.
- Inflation remains at 3.4%, above the Fed’s 2% target.
- S&P 500 and Dow Jones rose in the days after the hike.
- Mohamed El-Erian warned further Fed tightening could hurt households facing higher borrowing costs.