Trump Blames Fed Board, Not Own Appointees, for Rate Hike
President Donald Trump has expressed his support for Federal Reserve Chairman Kevin Warsh despite criticizing the central bank's recent interest rate hike. Trump claimed that the Fed board, which includes three of his own appointees, was responsible for raising rates against his wishes.
The interest rate hike was implemented to combat high inflation, with the Fed aiming to bring down prices to its 2% target. However, Trump has repeatedly called for lower interest rates, stating that they should be '1%, or less'.
Trump's criticism of the Fed board appears to be directed at members appointed by previous administrations, including Jerome Powell and Philip Jefferson. The President has a history of pressuring the Fed to cut rates during his second term.