Updated

The Federal Reserve's policy committee delivered its first interest-rate increase in three years, lifting the target range to 3.75%-4.0% in a unanimous vote, though forward guidance among officials was split. Markets initially reacted negatively to the hawkish tone, with major indexes wobbling in the immediate aftermath of the decision, as President Trump continued pressing Fed Chair Kevin Warsh for deeper rate cuts. By the close of trading, stocks had recovered to hold their gains following the hike, according to market commentary, suggesting investors ultimately looked past the initially hawkish tone. The steadier finish indicates markets are still digesting how aggressively the Fed will move going forward amid the political pressure campaign from the White House.