Fed Raises Benchmark Rate to 3.75%-4%, First Hike Since 2023

The Federal Reserve raised its benchmark rate by 25 basis points — a quarter-point — to 3.75%-4% on September 16, 2026, its first hike since 2023, according to the Fed and CNBC. For savers and borrowers, bank rates usually follow. I wouldn't assume a trend from one decision alone.