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

The Federal Reserve raised its benchmark rate — the rate that steers bank lending — by 25 basis points (0.25 points) to 3.75%-4% on September 16, 2026, the Fed and CNBC report. Its first hike since 2023. Savings and loan rates often follow. I wouldn't read a trend into one move.