Trump Slams Federal Reserve, Says He'd Have Voted Against Rate Hike
President Donald Trump expressed his opinion on the recent Federal Reserve rate hike in an interview with Time, stating that he would have voted against it if given the opportunity. However, he emphasized that he doesn't fault Fed Chairman Kevin Warsh for his decision.
Trump argued that the problem is interest rates will hurt economic growth and pinned today's inflation on his predecessor, Joe Biden. He described the Federal Reserve board as 'very hostile' and 'political,' suggesting that they are motivated by a desire to harm him personally rather than making decisions based on the best interests of the economy.
Despite Trump's criticisms, he maintained confidence in Warsh's leadership, saying, 'I don't blame you, Kevin. I think it's too bad. Not fair.' The Federal Reserve had unanimously increased its benchmark rate by 0.25 percentage points last month and signaled another hike later this year to combat inflation.