The US Federal Reserve raised its policy rate by 0.25%, its first hike since 2023, and signalled possibly one more this year to fight sticky inflation. The dollar index rose above 100 and US 10-year yields closed near 5.01%, the highest since 2007. Gold fell over $130 to a low near $4,235 before recovering somewhat. For a Thai SME, a firmer dollar and higher global rates can pressure the baht and raise import costs and loan pricing over coming months. Gold-shop customers should expect volatile prices; if you buy or sell gold, watch the $4,300 level the analysts flagged. No immediate action is required beyond reviewing FX exposure and any dollar-linked costs.