The Fed Raised Rates Today — First Hike in Three Years, Defying Trump's Wishes, With Another Likely in December. Is This the Start of a Long

The Fed raised interest rates today for the first time since 2023 — a unanimous quarter-point hike to 3.75-4%, directly against Trump's public demands for cuts. Fed Chair Kevin Warsh, who Trump himself appointed just months ago, said plainly that inflation is the problem, and the Fed doesn't expect it back to target until after 2028. Iran war-driven oil prices and record $6 diesel are the main culprits. Markets already expect another hike in December. We ask — is this the start of a real multi-meeting hiking cycle? Then the AI debate rages on — will it save us or end us? I'm firmly in the camp that it's going to cure diseases and genuinely improve our lives. The doomsayers remind me of the greenhouse gas predictions from years ago that never quite panned out the way we were told they would. All of it today.Become a supporter of this podcast: https://www.spreaker.com/podcast/the-tom-sullivan-show--6632619/support.Remember to call with your money and investing questions 855-295-6600 for the Financial Friday podcast. https://www.spreaker.com/show/7102919/episodes/feed