Episode
Fed Hikes Rates Amid Iran Energy Spike | Jersey City News
- Published
- Sep 17, 2026
- Duration seconds
- 121
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- https://sources.thednn.ai/3393cfe0b326bcab
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Summary
The Fed just raised rates for the first time in three years, hiking them a quarter point to 3.75–4%, citing stubborn inflation fueled by soaring gas and fuel oil prices — a spike tied directly to escalating conflict in Iran. With a unanimous vote, the committee affirmed strong domestic growth, steady jobs, and low unemployment, but warned inflation remains too high and must be brought down to their 2% target. New Chair Kevin Warsh called the move “sober,” stressing that underlying price trends haven’t improved and many categories still climb above 3% year-over-year. He also reaffirmed the Fed’s independence, noting they can’t control individual prices like oil or food — but can prevent inflation from spiraling. Meanwhile, gasoline prices jumped nearly 4% in August as Middle East tensions disrupt shipping lanes and push oil past $100 a barrel, raising alarms about global supply and economic stability. Listen in comfort: Get a discount on a Soli Pillow: http://solipillow.com/discount/dnn. Advertise on DNN: [email protected] This is an automated, high-level news summary based on public reporting. Sources: https://newjerseymonitor.com/2026/09/16/repub/fed-raises-interest-rates/ More coverage & latest updates: https://sources.thednn.ai/3393cfe0b326bcab Report issues to [email protected].