Federal Reserve Chair Kevin Warsh says the central bank raised interest rates by a quarter of a percentage point to address inflation, which remains above its 2% target, and flagged further increases in borrowing costs in the coming months ▻ ↧ Fed hikes rates in search of 'timelier' drop in inflation, sees mor... The Federal Reserve raised interest rates on Wednesday and flagged further increases in borrowing costs in coming months, with new U.S. central bank chief Kevin Warsh ​joining a unanimous decision that effectively acknowledges the Trump administration's inability so far to control inflation.