Fed Hikes Rate for the First Time Since 2023

The Federal Reserve raised its benchmark interest rate by a quarter percentage point on Wednesday, taking the federal funds target range to 3.75%-4%.

# Fed Hikes Rate for the First Time Since 2023 The Federal Reserve raised its benchmark interest rate by a quarter percentage point on Wednesday, taking the federal funds target range to 3.75%-4%. **Read the full article:** [NerdWallet](https://www.nerdwallet.com/finance/news/fed-sept-2026) *This article was originally published by NerdWallet. MoneyWiseInc provides expert curation of the best financial content from trusted sources.*