Fed Raises Benchmark Rate to 3.75%-4% in Unanimous Vote

The Federal Reserve voted unanimously September 16, 2026, to lift its benchmark to 3.75% to 4%, up from 3.5% to 3.75%, Yahoo Finance reported. That's a quarter-point rise. Savers may see higher deposit rates; borrowers likely face higher variable loan costs. I'd watch how quickly banks pass it through.