What to know about US Federal Reserve's first interest rate hike in 3 years

The unanimous decision comes as prices have remained stubbornly high and despite Trump's demands for lower rates.

For the first time in more than three years, the United States Federal Reserve has raised interest rates amid mounting inflationary pressures and consumer frustration.

The unanimous decision on Wednesday, supported by all 12 members of the Federal Open Market Committee (FOMC), raised rates by a quarter of a percentage point, underscoring the central bank’s commitment to lowering prices.

Al Jazeera English · 17 Sept, 4:33

Economy, business and finance

What to know about US Federal Reserve's first interest rate hike in 3 years

The unanimous decision comes as prices have remained stubbornly high and despite Trump's demands for lower rates.

For the first time in more than three years, the United States Federal Reserve has raised interest rates amid mounting inflationary pressures and consumer frustration.