Trump Slams Federal Reserve Over Interest Rate Hike
US President Donald Trump criticized the Federal Reserve after its decision to raise interest rates, calling on them to lower rates. Trump expressed his disagreement through a social media post, stating that he believes US interest rates should be around 1% or less due to the country's strong credit rating.
The move to raise interest rates was unanimous among Fed policymakers, with 16 of 18 anticipating at least one more quarter-percentage-point hike by the end of this year. This decision came as inflation remains a concern, with Warsh stating that 'inflation is too high and has been for too long.'
Trump's post also touched on trade deficits, which he claims are a loss for the US. He mentioned that the country is 'carrying' almost every other country in the world, implying that the Fed's decision to raise interest rates contributes to these trade imbalances.