The Federal Reserve raised interest rates by a quarter point at its September meeting, the first hike in three years and the first under Chair Kevin Warsh. Warsh emphasized that inflation is the Fed's top priority despite trade and geopolitical shocks. The FOMC voted unanimously for the hike, and its quarterly projections suggest a hawkish stance. Warsh also affirmed the Fed's commitment to independence and declined to comment on former President Trump.
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