Trump Faults Fed Board Over High Interest Rates Amid Inflation Concerns

President Donald Trump renewed his criticism of the Federal Reserve on Wednesday, accusing its board of governors of keeping interest rates high for political reasons. He pointedly exempted Fed Chair Kevin Warsh from criticism, saying he's doing a 'great job.'

The president has repeatedly argued that the FOMC hasn't cut rates quickly enough to support robust economic growth. Trump wants to see rates slashed to 1% or lower, although the central bank lowered lending rates six times between September 2024 and December 2025, bringing the federal funds target rate to its current range of 3.50% to 3.75%.

Trump also took issue with the relationship between positive economic data and interest rates, saying 'when we announce good numbers, the better they are, the worse it is for interest rates.'