Sen. Elizabeth Warren (D-Mass.) said the Federal Reserve’s recent interest-rate increase will raise borrowing costs for American families and blamed President Donald Trump’s economic policies. She said credit card users alone are expected to pay roughly $2 billion in additional interest charges over the next year. The Fed raised its policy rate by 25 basis points to a range of 3.75%-4.00%, marking its first increase since 2023. The PCE (personal consumption expenditures) price index rose 0.3% in August, below the 0.4% consensus estimate, while the annual rate remained at 3.4%; energy prices increased 2.3% during the month. Traders currently assign a 61.8% probability to the Fed keeping rates unchanged at its October meeting, compared with a 38.2% chance of another hike, according to CME FedWatch. Warren also linked higher energy prices and Treasury yields to more expensive mortgages and borrowing, while diesel averaged $6.4139 per gallon, about 73% above a year earlier, according to AAA. Brent crude and WTI futures were lower at the time of writing. The Financial Times reported that the Trump administration had warned allies, including the U.K., about potential diesel-supply disruptions as the White House worked with European allies on a possible export ban.