Trump criticizes Federal Reserve rate increase, says rates should be 1% or lower

President Trump criticized the Federal Reserve's decision to raise interest rates by a quarter percentage point, claiming the U.S. economy is performing well enough that rates "should be 1%, or less," according to remarks made following the announcement by Federal Reserve chair Kevin Warsh.

The rate increase marks the first hike since July 2023 and comes as the nation approaches the November midterm elections.