The Fed makes a move

The much-anticipated Federal Open Market Committee meeting on Wednesday did not disappoint: The Federal Reserve raised interest rates for the first time since 2023.

The quarter-point increase is also the first rate hike with Fed Chair Kevin Warsh at the helm, and it defied President Donald Trump’s clear desire to keep rates low.

However, Trump appeared to give Warsh a pass and foisted blame instead onto the rate-setting committee, which voted unanimously for the raise.

For his part, Warsh maintained his tight-lipped standard and spared very little time for questions at his post-decision press conference. In the past, the chair has said he’s “not a forward guidance guy,” but is this move a glimpse into what’s to come for the Fed as they continue to fight inflationary pressures?

“Marketplace” host Kai Ryssdal breaks down the week that was with Catherine Rampell, economics editor at The Bulwark and anchor at MSNOW, and Heather Long, chief economist at Navy Federal Credit Union.

Click the audio player beneath the headline to listen to their conversation.