Trump Blasts Fed Board Over Interest Rate Hike, Despite Own Appointees Voting in Favor

President Donald Trump has expressed dissatisfaction with the recent interest rate hike by the Federal Reserve, despite his own appointees voting in favor of the increase. Trump stated that he still supports Fed Chairman Kevin Warsh, whom he appointed, but criticized the rest of the board for raising rates against his wishes.

The Fed raised its benchmark rate to a range of 3.75% to 4%, which is higher than Trump's desired rate of 1% or less. This move is expected to support a 'timelier return' to the central bank's 2% inflation target, but has also led to increased interest costs for the federal government.

Trump's administration had previously pressured the Fed to cut rates, with some members even exploring the removal of Chairman Jerome Powell from his position. However, it appears that this move will not affect Warsh, who has been vocal in his support for Trump's economic policies.