BREAKING: The Federal Reserve just raised interest rates for the first time in more than three years, and it's the first rate hike under Fed Chair Kevin Warsh. The quarter-point increase comes as inflation remains above the Fed's 2% target and the conflict in Iran continues to put pressure on prices. Warsh signaled the move last month, saying the Fed's "predominant focus" should be on bringing prices under control. The decision could also draw criticism from President Trump, who has repeatedly called for lower borrowing costs.