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What the Fed rate hike likely means for you
Published by Associated Press via PBS NewsHour on September 16, 2026.
Associated Press coverage of how the decision may reach borrowers and savers.
The cited passage, with surrounding source text
… <p>The Fed increased its benchmark interest rate Wednesday by a quarter-point, the first rate hike since the summer of 2023. The hike will likely make it even costlier to borrow for homes, autos and other purchases. But if you've been socking money away, you'll probably earn a bit more interest on your savings.</p> <p><a href="https://www.pbs.org/newshour/economy/watch-live-warsh-holds-briefing-after-fed-meeting-as-interest-rates-expected-to-rise"><strong>WATCH:</strong> Warsh holds briefing after Fed raises interest rates for 1st time in 3 years</a></p> <p>The increase boosts the Fed's target rate to a range of 3.75% to 4.00%.</p> </div> <div class="newsletter-inline style-yellow"> <div class="subscribe__form"> <h2 class="subscribe__form-title">Educate your inbox</h2> <p>Subscribe to Here’s the Deal, our politics newsletter for analysis you won’t find anywhere else.</p> <form action="#" method="POST" class="subscribe-form subscribe-form-inline" novalidate> <div class="form-fields"> …
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- Fed raises rates a quarter point on a unanimous vote · cited for the decision's reported effects on borrowers and savers
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Timeline entries this record anchors: The committee raises the range by a quarter point.