In a unanimous act of institutional resolve, the United States Federal Reserve raised its benchmark interest rate to 3.75%-4% on Wednesday — the first such increase in over three years — defying direct public pressure from President Trump, who had demanded cuts. Fed Chair Kevin Warsh framed the decision not as a political statement but as a necessary reckoning with inflation that has outpaced the Fed's 2% target for half a decade. The move reflects a broader global moment in which central banks, battered by the economic aftershocks of war and energy disruption, are choosing the discipline of r