Trump blasted the Federal Reserve after it raised interest rates for the first time in three years, pushing the federal funds rate to 3.75-4%. He demanded rates drop to 1% or lower, arguing the U.S. is "carrying almost every country in the World" and can't sustain current policy.
The rate hike passed unanimously, 7-0, including Fed Chair Warsh. Multiple officials have already signaled support for another hike later this year.
The Fed made clear rate cuts are off the table anytime soon—setting up a direct clash with the White House over monetary policy.
The rate hike passed unanimously, 7-0, including Fed Chair Warsh. Multiple officials have already signaled support for another hike later this year.
The Fed made clear rate cuts are off the table anytime soon—setting up a direct clash with the White House over monetary policy.