The United States Federal Reserve raised interest rates in September 2026 for the first time since which year?

Explanation: The US Federal Reserve raised interest rates by 25 basis points, its first hike since 2023, in response to stubbornly high inflation driven largely by the Iran war and the resulting energy shock. Rising US rates tighten global financial conditions, strengthen the dollar and raise borrowing costs for emerging markets like Pakistan. CSS aspirants should connect Fed policy to Pakistan's external debt servicing, exchange rate pressure and the cost of any future Eurobond issuance.