Bangladesh, Sept. 29 -- The Federal Reserve's decision to raise interest rates has created a new challenge for Americans already struggling with the cost of buying or renting a home. On September 16, 2026, the Federal Open Market Committee increased the federal funds target range by a quarter percentage point, bringing it to 3.75%-4.00%. The Fed said inflation remained elevated and that the move was intended to support a return to its 2% inflation goal.

The decision came despite President Donald Trump's repeated preference for substantially lower interest rates. But monetary policy is ultimately determined by the Federal Reserve, not the White House. That means the administration has limited ability to directly influence the benchmark r...