The Federal Reserve raised interest rates by 25 basis points in its first hike in more than three years, in a unanimous decision. Most central bankers expect one more rate increase before the end of the year. Fed Chairman Kevin Warsh said inflation is too high and has been for too long, reaffirming the institution’s commitment to reducing it. Starbucks is considering selling a majority stake in its Japan operations for about $3 billion, while GE Vernova shares rose more than 4% after a bullish presentation by its CEO at the Morgan Stanley Laguna Conference. GE Vernova confirmed it is on track to reach its $200 billion backlog target very early in 2027, up from $176 billion at the end of June.
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