Trump Touts 'Best Credit in the World' as He Claims Fed Interest Rate Hike was Politically Motivated
US President Donald Trump claims he advised Federal Reserve Chair Kevin Warsh to vote in favor of raising interest rates, despite disagreeing with the decision. This comes after the Fed's unanimous vote to increase rates by a quarter point on September 16.
In an exchange with reporters, Trump said he told Warsh that 'it doesn't matter' because the board would vote against him anyway due to their supposed hostility and politicization.
Trump also suggested that the interest rate hike was motivated by a desire to hinder his economic policies, stating that 'They're raising the rates to make Trump do as bad as he can possibly do.'
Warsh remained tight-lipped about discussions with the President, citing the Fed's independence and refusal to engage in politics.