Federal Reserve raises interest rates for first time since 2023

Sue Roesler
Oct 20, 2026
2 hrs ago

Rates rising — Mortgage rates and lending rates have been rising month over month since April.

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The Federal Reserve raised interest rates from a target range of 3.75 to 4 percent at their September meeting. The board wanted to get ahead of “stuck” inflation above 3 percent and unemployment. Their target inflation rate is 2 percent.

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