American consumers brace as Federal Reserve hikes interest rates

By ABC News

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For the first time in three years, the Federal Reserve hiked interest rates, defying Pres. Trump's call to lower them. It comes as the war with Iran rages on, skyrocketing gas prices and energy costs. ––– Subscribe to ABC News on YouTube: https://abcnews.visitlink.me/59aJ1G ABC News is your daily source of breaking national and world news, exclusive interviews and 24/7 live streaming coverage. https://abcnews.com Download the ABC News app for the latest headlines and alerts: https://abcnews.com/devices Connect with ABC News on social media: Facebook: https://www.facebook.com/ABCNews Instagram: https://www.instagram.com/abcnews TikTok: https://www.tiktok.com/@abcnews X: https://twitter.com/ABC Threads: https://www.threads.net/@abcnews WhatsApp: https://whatsapp.com/channel/0029VajTNakKWEKkXoAPIR11 LinkedIn: https://www.linkedin.com/company/abcnews

Tags: ABC, ABC News, Fed, Federal Reserve, Iran, World News Tonight, business, finances, money, p_cmsid=2494279, p_vid=news-136509738, politics, stock market, war