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The US stock market has declined as the Federal Reserve raised interest rates in an effort to curb high inflation, marking the first rate hike since March 2022. The S&P 500 fell by 0.3%, while the Dow Jones and Nasdaq dropped by 1.4% and 0.4% respectively during late trade after Fed Chair Kevin Warsh’s press conference. Australian futures also pointed to a decline of 71 points or 0.8% at open, following similar global trends in financial markets.
Written by the local model on 2026-09-17,
using this article's own text rather than the other coverage of the
same event (that is the story summary below).
Story summary
On September 16, 2023, the Federal Reserve is expected to raise interest rates by 25 basis points to a range between 3.75% and 4.00%, according to predictions from the CME Group's FedWatch tool which show a nearly 90% likelihood of this happening. This rate hike, aimed at curbing inflation that has remained above the Fed’s goal despite previous efforts, is likely to anger President Donald Trump who has repeatedly called for lower rates. Despite pressure from Trump and Vice President JD Vance, financial markets anticipate the central bank will act decisively due to high oil prices and ongoing geopolitical tensions in the Middle East pushing inflation levels up again. The decision comes amid concerns that higher borrowing costs could further strain an already stressed economy, particularly affecting home buyers and those seeking loans or credit cards.
Written for “Fed Interest Rate Hike” on 2026-09-17,
grounded in this article and the 19 other(s) covering the same event.
Why this leaning score
This article does not take a side on a contested political
question, so it has no leaning score. That is an
answer rather than a gap: a match report or a rescue can be warmly
or critically written without being left or right, and scoring it
anyway is how approval of a subject gets recorded as a political
position.
No political leaning scored for article 14422 · logged 2026-09-17
The US stock market has fallen into the red as Federal Reserve chair Kevin Warsh spoke after the central bank showed it’s trying to get the nation’s high inflation under control by hiking interest rates for the first time in three years.
asserted
it → fall → years
Investors would almost always prefer lower interest rates because higher rates tend to slow the economy’s growth and undercut the prices for stocks and other investments.
asserted
rates → prefer → stocks
But because prices for gasoline, food and other costs of living have been shooting so much higher for so long since the COVID-19 pandemic, the thought is that the short-term pain will be worth it to get inflation under control.
asserted
pain → shoot → control
The S&P 500 was up 0.2 per cent as Warsh opened his press conference and was on track for just its second gain in the last eight days but is now 0.3 per cent lower in late trade.
asserted
Warsh → open → trade
The Australian sharemarket is set to decline, with futures at 5.01am AEST pointing to a fall of 71 points, or 0.8 per cent, at the open.
asserted
futures → set → open
The ASX added 0.3 per cent on Wednesday.
asserted
ASX → add → Wednesday
Stocks got help from some easing for oil prices and pressure from the bond market.
asserted
Stocks → get → market
The price for a barrel of Brent crude, the international standard, fell 2.9 per cent to $US105.58.
asserted
price → fall → US105.58
Oil had gotten to nearly $US110 early this week on worries that the war with Iran will continue to clog the global flow of oil.
asserted
war → get → oil
That helped send the yield on the 10-year Treasury, which is the centrepiece of the bond market and dictates where rates for mortgages and other loans go, down to 4.94 per cent from 5.00 per cent late Tuesday.
asserted
rates → send → cent
Earlier this week was the first time since 2023 that the 10-year yield topped 5 per cent.
asserted
yield → top → cent
Even with Wednesday’s easing, the pressure remains high.
asserted
pressure → remain → easing
That’s why the Fed raised rates on Wednesday, after it had been on pause for months following cuts to rates in 2024 and 2025.
asserted
it → ’ → 2024
Fed officials also released forecasts Wednesday showing that the median member expects interest rates to be higher at the end of this year, next year and the following one than expected a few months earlier.
asserted
rates → release → year
A report on Wednesday morning showing that shoppers spent much more at US retailers last month than economists expected may have emboldened the Fed.
uncertain
economists → show → retailers
It could offer a signal that the economy remains strong enough to withstand higher rates.
uncertain
economy → offer → rates
On Wall Street, stocks in the artificial-intelligence industry held steadier following their worldwide slide earlier in the week, after leaders of the AI industry called for a slowdown in development to address safety issues for humanity.
asserted
leaders → hold → humanity
Nvidia rose 1.9 per cent, and Advanced Micro Devices climbed 4 per cent.
asserted
Devices → rise → ?
They helped offset a drop of 12.5 per cent for J.B. Hunt Transport Services.
asserted
They → help → Services
Its chief financial officer told a conference of analysts late Tuesday that it’s facing higher costs and expects its earnings to drop 5 per cent to 10 per cent from the second quarter to the third.
asserted
earnings → tell → third
In stock markets abroad, indexes rose across much of Europe and Asia.
asserted
indexes → rise → Europe
South Korea’s Kospi climbed 1.4 per cent for one of the world’s biggest gains.
asserted
Kospi → climb → gains
Inflation is a worldwide problem, and the European Central Bank hiked rates across the Atlantic last week to help diminish it.
asserted
Bank → hike → it
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