Trump Slams Fed Rate Hike, Blames 'Hostile Board' for Decision

President Donald Trump expressed his discontent over the Federal Reserve's decision to hike interest rates for the first time since 2023, citing rising inflation. He took to Truth Social, stating that interest rates in the US should be 1% or lower, as the country has 'the best credit in the world'.

In a post on his social media platform, Trump mentioned that lowering interest rates would make the US more competitive and beneficial for its economy. He also suggested that cutting off trade with countries that have deficits with the US could generate at least $1.5 trillion annually.

However, Trump's hand-picked Federal Reserve chair, Kevin Warsh, confirmed the central bank's decision to raise interest rates by a quarter of a percentage point to between 3.75% and 4%. Warsh clarified that the Fed operates independently and makes decisions based on its own analysis.