Kevin Warsh

Kevin Warsh

Federal Reserve Chairman Kevin Warsh arrives to hold a press conference following a two-day meeting of the Federal Open Market Committee (FOMC) at the Federal Reserve in Washington, D.C., U.S. September 16, 2026. REUTERS/Evan Vucci

What do higher rates mean for borrowers and savers?

WalletHub, an online financial marketplace, estimates that the current rate hike will cost consumers roughly $2 billion in additional interest over the ​next 12 months.

Federal Reserve Chairman Kevin Warsh holds a press conference following a two-day meeting of the Federal Open Market Committee (FOMC) at the Federal Reserve in Washington, D.C., U.S. September 16, 2026. Photo: REUTERS/Evan Vucci

Fed raises rates in search of 'timelier' drop in inflation, sees more tightening ahead

Logo of the US Board of Governors of the Federal Reserve System. Photo: Collected

'This is the test': All eyes on US Fed to tackle high inflation

Former US Federal Reserve Governor Kevin Warsh speaks during a monetary policy conference at Stanford University’s Hoover Institution in Palo Alto, California, US May 9, 2025. Photo: Reuters

Trump picks former Fed official Warsh to run US central bank

The Federal Reserve building is seen in Washington, US. File Photo: Reuters

Trump says Fed pick due on Friday after meeting Warsh at White House