The US Federal Reserve raised rates by 0.25% on September 17, 2026, its first increase in three years, with a unanimous 12-0 vote. The Dot Plot signals at least one more rate hike by December 2026 and possibly another in Q1 2027. For Thai SMEs, higher US rates present mixed impacts: negative pressures from capital outflows, weaker baht, and higher import costs (especially energy); positive opportunities from stronger competitiveness in exports (textiles, electronics, processed agriculture) and tourism/healthcare services. Thailand's response includes extending the "Thai Help Thai Plus" program, accelerating public investment, and monitoring inflation and oil prices.