🚨BREAKING: The Fed RAISED interest rates by 25 bps to 3.75%–4%, with a forecast of another 25 bps by year end. This is the Fed's FIRST hike since July 2023. The decision was unanimous, with a 12–0 vote. • 12 of 18 officials see one more hike this year, taking rates to around 4.1%. • 4 see two more hikes, taking rates to around 4.4%. • 2 see no further hikes, leaving rates around 3.9%. Median rate projections stand at 4.1% for end-2027 and 3.9% for end-2028. The longer-run estimate rose to 3.2% from 3.1%. The Fed also raised its 2026 inflation forecasts by 0.1 percentage point each, to 3.7% for headline PCE and 3.4% for core PCE. It says growth remains solid and inflation elevated, with today’s hike supporting a faster return to its 2% target.