The Fed hiked interest rates for the first time in three years — and President Donald Trump isn’t thrilled.
“Interest Rates in the United States should be 1%, or less, because we are the Best Credit in the World — BY FAR,” he wrote on Truth Social. “Our Country is BOOMING with new Investment!”
While Trump didn’t mention him by name in the post, Chair Kevin Warsh faced a massive test of Fed independence Wednesday. The Federal Open Market Committee voted unanimously to raise rates by a quarter point to foster stable prices. Inflation is stubbornly outpacing wage growth in the US and remains above the Fed’s 2% goal, largely due to supply shocks…
