Navarro Slams Fed Interest Rate Hike as 'Bad Decision'

White House adviser Peter Navarro has criticized the Federal Reserve's decision to raise interest rates, calling it 'a bad decision'. The central bank's Federal Open Market Committee (FOMC), led by Fed Chair Kevin Warsh, voted unanimously to increase the benchmark interest rate to a range of 3.75 percent to 4 percent.

Navarro expressed his disagreement with the move, saying that it will 'take money out of your pocket' and result in Americans spending less and an economic slowdown. He also accused the Fed of being politicized under Warsh's predecessor, Jerome Powell.

President Trump had previously threatened to cut off trade with countries that have a deficit with the US, which Navarro said is something the administration is 'cracking down on'.