Fed raises rates by 25 basis points in first hike since July 2023

The U.S. Federal Reserve raised its benchmark interest rate by 25 basis points, marking its first increase since July 2023, according to CoinDesk. The widely expected decision moves the federal funds target range to 3.75%-4.0%. The rate adjustment sets the latest level for the Fed’s benchmark policy range and is relevant to financial markets, including crypto assets such as ARK, BAS, DEL, FUN, ACE and MOVE. CoinDesk reported the decision on Sept. 16, 2026.