CA, US & World
Federal Reserve Weighs Interest Rate Decision as Inflation Remains Elevated
The Federal Reserve is meeting Wednesday with interest rates at the center of attention as policymakers weigh continued inflation pressures against the cost of borrowing for consumers and businesses.
The Federal Open Market Committee is scheduled to announce its latest policy decision Wednesday, with Federal Reserve Chairman Kevin Warsh set to hold a news conference afterward. The Fed's most recent published effective federal funds rate was 3.63% on Sept. 14.
Higher interest rates generally make borrowing more expensive, affecting products such as credit cards, auto loans and mortgages. Mortgage rates have also remained elevated, adding another cost for prospective homebuyers.
Energy prices are an additional concern for the economy. Higher oil and diesel prices can increase transportation costs, which can then affect the prices consumers pay for goods, including groceries.
The Congressional Budget Office released a report Tuesday examining the economic and budgetary effects of the current armed conflict involving Iran. CBO said a prolonged conflict that disrupts oil shipments through the Strait of Hormuz could put upward pressure on prices and slow global economic growth.
The Fed has a dual mandate to promote maximum employment and stable prices. Its decisions can affect borrowing costs throughout the economy, although consumer rates such as mortgages are also influenced by broader financial-market conditions.
The current meeting comes as households continue to deal with higher prices for everyday expenses. For consumers already facing increased costs at the gas pump and grocery store, changes in interest rates could add another factor to household budgets.
The Federal Reserve's decision and updated economic projections are expected to provide additional insight into how policymakers view inflation, employment and the path for interest rates.
Explore: NBCPalmSprings.com, where we are connecting the Valley.
By: NBC Palm Springs
September 16, 2026
Latest Instagram Posts
Who makes the NBC Top 3, winner will be announced Sunday night on NBC Palm Springs, with the player who makes the number one spot winning a $250 prize from @hondaofthedesert! Comment below if it will be 1) James Madden Ruberg with the rushing TD, 2) Joshua Perez with the dot, 3) Anthony Creek-Pellum, 4) Giorgio Barone goes all the way, or 5) Izayah Garcia with the tackle for a loss #hondaofthedesert #fnl #fridaynightlights #fyp #highschoolfootball
🚨 FINAL SCORE: FIREBIRDS WIN! 🔥🏒 A big night for the Coachella Valley Firebirds! The Birds take care of business with a convincing 5-1 victory! Five goals, a strong performance, and two points in the standings! That’s how you get it done! 🐦🔥 #CVFirebirds #FirebirdsWin #CoachellaValley #AHL #HockeyNigh
🥊 THE ONLY FIGHT OF THE NIGHT… SO FAR! 🔥 With just over four minutes remaining in the third period, the gloves finally came off! The Firebirds are leading 5-1, but there’s still time for more fireworks before the final horn! 🏒💥 #CVFirebirds #AHL #HockeyFights #CoachellaValley #HockeyNight
💀🏒 ¡Feliz Día de los Muertos! Adding a little sabor to tonight’s Firebirds vs. Henderson matchup! Our own Pablo Alsina is here bringing some Spanish flair to this special Día de los Muertos night in the desert. Hockey, culture, and a whole lot of celebration! 🔥🐦 #FirebirdsHockey #DiaDeLosMuertos #CoachellaValley #CVFirebirds #HockeyNight DíaDeLosMuertos
🏒 GAME NIGHT IN THE DESERT! 🔥 Tim O’Brien gets us ready for tonight’s matchup as your Coachella Valley Firebirds take on the Henderson Silver Knights! The energy is building, the puck is about to drop, and we’re ready for another night of Firebirds hockey! Let’s go, Firebirds! 🐦🔥 #FirebirdsHockey #CVFirebirds #CoachellaValley #HockeyNight #AHL LetsGoFirebirds
Your In-Arena hosts tonight!!! Tim O’Brien and Pablo Alsina!!
Remembering and honoring the loved ones we’ve lost. ❤️ Dia de los Muertos is about more than mourning — it’s a time to celebrate the lives, memories and traditions of those who will always remain in our hearts. We spoke with Mateo Gomez of Forest Lawn about the importance of keeping those memories alive and creating healthier conversations around grief and loss, including the stigma surrounding suicide. Join Forest Lawn for a special Día de los Muertos celebration this Monday in Cathedral City, from 5 to 8 p.m. Families are invited to come together, remember loved ones and celebrate their lives. #DiaDeLosMuertos #DayOfTheDead #ForestLawn #CathedralCity #RememberingLovedOnes #GriefSupport #NBCPalmSprings
Whatever you do after surgery... rule 1: do NOT post it on social media! #therogginreport #menshealth #viralreels #localnews #nbcpalmsprings
🥪 Halloween flavors are on the menu at The Sandwich Spot! Dana stopped by NBC Palm Springs to show us two seasonal favorites: “Rosemary’s Baby,” a spooky twist on chicken parmesan, and “Cornucopia,” bringing a taste of the season to every bite. 🎃 Rosemary’s Baby is available for a limited time through Halloween, while Cornucopia will stick around through New Year’s Day! Whether you're craving a hot specialty sandwich or planning a party, The Sandwich Spot also has catering platters ready to go. #TheSandwichSpot #CoachellaValleyEats #PalmSpringsFood #LocalRestaurants #HalloweenEats #SeasonalSpecials #NBCPalmSprings
🗳️ ELECTION DAY IS ALMOST HERE! Coachella voters are preparing to choose their next mayor, and the race features four candidates with very different visions for the city's future. From leadership and transparency to better streets, parks, schools and economic development, what's at stake in this election? NBC Palm Springs' Alondra Campos sat down with all four candidates to hear directly from them about why they want your vote and what they hope to accomplish. Watch the interviews and get informed before heading to the polls. Make your voice heard on November 3! #ElectionDay #Coachella #CoachellaMayor #Election2026 #LocalElections #AlondraCampos #NBCPalmSprings #CoachellaValley