Donald Trump fired shots at the Federal Reserve this Wednesday after the central banking entity raised interest rates for the first time in three years. The president argued that rates should be sharply and quickly reduced, rather than pushed up.
The Republican leader stated on his social media that rates should be lowered to 1% or less shortly after the Federal Reserve unanimously approved a quarter-point increase, raising its benchmark rate to a range of 3.75% to 4% interest. Additionally, the president reminded that the US is "'supporting' almost all countries in the world" and asserted that this "cannot continue for much longer."
This increase was the first by the Fed since July 2023 and occurred despite Trump's repeated calls for lower borrowing costs. The measure also marked the first major decision on interest rates under the presidency of the new head of the central bank, Kevin Warsh, who took office a few months ago.
