Fed Hikes Interest Rates Amid Persistent Inflation

The Federal Reserve raised interest rates by 0.25 percent to 4.0 percent, a move that puts President Trump at odds with Chair Kevin Warsh.

This is the first time the Fed has hiked rates in three years and comes despite the president's calls for lower interest rates ahead of the November midterm elections.

Economists and political strategists note that the increase reflects a recognition that inflation continues to persist, contradicting Trump's message that the economy is experiencing an economic boom.