Fed Raises Interest Rates, Drawing Sharp Criticism from Trump
The Federal Reserve's first rate hike since 2023 has prompted an immediate rebuke from President Trump, as Fed Chair Kevin Warsh defends the central bank's independence.
The US Federal Reserve has raised interest rates for the first time since 2023, according to France 24, citing persistent inflation despite pressure from President Donald Trump to lower borrowing costs.
The decision prompted an immediate rebuke from Trump, France 24 reported, though the specific nature of his remarks was not detailed in the available reporting.
Fed Chair Kevin Warsh defended the central bank's independence following the announcement, according to the report, and warned that controlling inflation remains the institution's top priority.
The rate increase marks a shift in the Fed's monetary policy stance after a period without hikes since 2023, France 24 noted, though further details on the size of the increase or its expected economic impact were not included in the source material.
The clash between the White House and the central bank underscores ongoing tension over monetary policy, with Trump having previously pushed for lower borrowing costs to stimulate economic activity.
Sources
- US interest rate hike sparks Trump backlash — France 24 — English
EGazette summarizes reporting from multiple sources; follow the links for the originals.
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