Federal Reserve expected to announce interest rate increase – live

Kevin Warsh, Donald Trump’s pick for Fed chair, expected to raise rates despite intense pressure from president

Good afternoon. The US Federal Reserve is widely expected to raise interest rates for the first time since 2023 amid persistently high inflation.

It is anticipated to raise interest rates by a quarter of a percentage point (25 basis points), bringing the benchmark federal funds rate to a new target range of 3.75% to 4%.