Wednesday's FOMC meeting pushed the Fed's benchmark rate up 25 basis points, setting a 3.75‑4% target range—the first increase since July 2023. NEWPAR Fed Chair Kevin Warsh defended the hike, saying inflation remains too high and the standard for a 2% goal hasn't been met. NEWPAR Trump took to Truth Social, demanding rates drop to 1% or lower, arguing the United States is the world's best credit and should enjoy cheaper borrowing. NEWPAR White House senior deputy press secretary Kush Desai called the rise "unfortunate," warning it could stymie economic progress, raise mortgage costs, and impede business expansion. NEWPAR Amid rising inflation forecasts—3.7% for 2026—and a steady 4.1% unemployment rate, the Fed hints at another hike later this year, while a small‑business owner in Detroit worries about postponed expansion.