Fed raises rates 25bp to 3.75%-4.00% in unanimous 12-0 vote, first hike since 2023

The FOMC voted 12-0 to raise the policy rate by 25 basis points to 3.75%-4.00%, the first hike since 2023, with officials' median projection for the rate in 2027 at 4.1%. Attention turns to Chair Warsh's press conference and the dot plot.

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