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Story summary
- Federal Reserve officials said another interest-rate hike will likely be needed this year.
- The Fed raised its rate by 0.25 point to 3.9% at the Sept. 15-16 meeting, its first rise in three years.
- Officials unanimously agreed inflation remains elevated, stuck between 2.5% and 3%, above the 2% target.
- President Donald Trump called the Fed’s rate-rise vote “very political” but said he still supports Warsh.