Fed Raises Its Main Rate: Loans Cost More, Savings Pay More

The Fed raised its federal funds target — its main rate, like a thermostat for borrowing — to 3.75% to 4% in September 2026, Kiplinger reported. That's up a quarter-point from 3.5% to 3.75% in July, per the Fed. Loans get pricier, savings pay a bit more. I see 2025's rate cuts stopping here, for now.