Many on the conservative side, most notably President Donald Trump himself, could hardly wait for former Federal Reserve Chairman Jerome “Too Late” Powell to exit left, and when his successor, Kevin Warsh, took office in May, they hoped we’d finally see a cut in interest rates.
It’s not happening — in fact, the Fed announced Wednesday that they’re raising them by 0.25 percentage points (25 basis points), bringing the new target range to 3.75 percent to 4.00 percent, up from 3.50 percent to 3.75 percent. The decision by the Board was unanimous (12–0).
🚨 BREAKING: The Federal Reserve has voted to RAISE interest rates for the first time in THREE YEARS
— Nick Sortor (@nicksortor) September 16, 2026
In a unanimous vote, the Fed hiked rates by a quarter point.
However, the Fed mentions the economy is STRONG, expanding at a "solid pace," and capital investment is "robust"… pic.twitter.com/lme1bb1jl6
🚨 BREAKING: The Federal Reserve has voted to RAISE interest rates for the first time in THREE YEARS
In a unanimous vote, the Fed hiked rates by a quarter point.
However, the Fed mentions the economy is STRONG, expanding at a "solid pace," and capital investment is "robust"
President Trump will likely NOT be happy with this result. I expect a Truth Social post anytime now 👀
As of this writing, it does not appear that Trump has posted to social media about the hike, but the above post is likely correct that he will not have a positive reaction. However, it may be muted compared to how he used to routinely blast Powell because Warsh is his hand-picked successor and had the president’s full backing. We'll see if that continues to be the case.
There may be more hikes coming in the not-too-distant future:
Looking ahead to the final two FOMC meetings of the year, a majority of committee officials project at least one rate hike. Twelve of 18 FOMC officials projected a single rate hike, according to a quarterly summary of economic projections the Fed released on Wednesday.
Four officials projected two hikes, while two predicted a pair of holds. Warsh, who has strayed away from issuing forward guidance as Fed chair, did not provide a projection for the Fed’s last quarterly summary in June.
The financial analysis outlet The Kobeissi Letter reacted:
The Fed made a very clear statement today.
— The Kobeissi Letter (@KobeissiLetter) September 16, 2026
Not only did they hike interest rates, but it was a 12-0 unanimous decision.
This marks the first unanimous Fed decision since May 2025, amid calls from President Trump to cut rates.
And, the Fed concluded their policy statement by…
The Fed made a very clear statement today.
Not only did they hike interest rates, but it was a 12-0 unanimous decision.
This marks the first unanimous Fed decision since May 2025, amid calls from President Trump to cut rates.
And, the Fed concluded their policy statement by saying, "The Committee will deliver price stability," making it clear that inflation is their top priority.
The question now becomes: How does President Trump respond?
12 days ago, President Trump said he would "stop trading" with 50+ US trade partners if the Fed does not cut rates.
Today, the Fed not only avoided cutting rates, they hiked them.
Clearly, the divide between the White House and the Fed is widening, even with Jerome Powell out.
More to come.
We’ll keep an eye on Trump’s Truth Social account to see if he weighs in on the matter. In the meantime, pay off those credit cards — because they’re about to get more expensive.
Editor’s Note: Thanks to President Trump’s leadership and bold policies, America’s economy is back on track.
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