Fed meeting updates: The FOMC is likely on the verge of its first interest rate hike in 3 years

Brendan SMIALOWSKI / AFP via Getty Images Live Updated 2026-09-16T09:54:01.014Z Fed meeting updates: The FOMC is likely on the verge of its first interest rate hike in 3 years Read in app Kevin Warsh is clocking in for his third Federal Reserve meeting as chair — and America is on hike watch. The central bank's September decision comes alongside escalating tariff policies from the White House, an ongoing war in Iran , and renewed fears that AI will upend the job market . Business Insider is following the news, including economists' insights, market moves, and what the interest rate call means for consumers.

Follow along for updates. Copied! Warsh's first big test Good morning, and welcome to Fed Day!

With stubborn inflation and volatile global oil prices, Fed chair Warsh must decide which side of the central bank's dual mandate feels most urgent: stable prices or maximum employment. A rate hike could help temper inflation, making basic goods more affordable for consumers and helping to steady the economy. However, higher rates risk slowing the job market and making it more difficult for Americans to buy homes and start businesses.

Wednesday's rate call will be a test of priorities for Warsh and the Federal Open Market Committee. Read next Interest Rates Federal Reserve

Source: Business Insider