Trump Blasts Fed's Interest Rate Hike as 'Shame'
President Trump has criticized the Federal Reserve's decision to raise interest rates, saying it is 'a shame' that the rate is too high. The Fed announced on Wednesday that they would be increasing the interest rate range to 3.75 to 4 percent, marking the first hike in three years.
The President expressed his frustration with the board, stating that 'they're very hostile,' 'very political,' and 'doing the wrong thing.' He praised Federal Reserve Chair Kevin Warsh, saying he has a 'tough' board to work with. Trump also reiterated his view that the US interest rate should be 1 percent or less, as the country is 'the Best Credit in the World, BY FAR.'
Trump claimed that the US would make at least $1.5 trillion per year if they stopped trading with countries that have a deficit with them.