The Fed Raises Interest Rates For the First Time in Three Years

P.M. Edition for Sept. 16. The Federal Reserve unanimously decided to raise interest rates a quarter percentage point today, its first rate hike in three years. WSJ economics reporter Matt Grossman discusses what went into that decision, what it means for the Fed’s relationship with President Trump and what to expect from the Fed’s future meetings this year. Plus, Yemen’s Tehran-backed Houthi rebels claimed they shot down a Saudi fighter jet. We hear from the Journal’s deputy Middle East bureau chief Jon Gambrell about how the Houthis recently seized Bab al-Mandeb Strait, a crucial oil chokepoint, after sitting out months of the Iran war. And business leaders are taking sides in the debate around AI regulation—mostly in opposition to President Trump. Alex Ossola hosts.  Sign up for the WSJ's free What's News newsletter. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.