Trump's Rate Cut Wishes May Be Unfulfilled as Fed Hikes Interest Rates

The Federal Reserve raised its policy rate target range by a quarter of a percentage point to 3.75%-4.00%, the first rise in more than three years.

US President Donald Trump responded with a combative social media post, demanding lower interest rates: 'LOWER THE INTEREST RATES FOR THE UNITED STATES OF AMERICA, AND FAST!'

Markets are now pricing in a roughly 50% chance that the Fed could raise rates again at its next meeting in October, and possibly even more than once.