Trump Blasts Federal Reserve for Hiking Interest Rates

President Donald Trump strongly disagreed with the Federal Reserve’s unanimous decision to hike interest rates by 0.25 percent on Wednesday afternoon, which is the first rate hike since 2023.

“Interest Rates in the United States should be 1%, or less, because we are the Best Credit in the World — BY FAR. Our Country is BOOMING with new Investment!” the president posted to Truth Social. 

“If we stopped Trading with every country that we have a Deficit with, which is most of them, we would make, at least, 1.5 Trillion Dollars a year. The word ‘Deficit’ is nothing more than a fancy word for LOSS. We are “carrying” almost every country in the World, and that cannot go on any longer,” he continued. 

The president then bluntly demanded that the Federal Reserve “LOWER THE INTEREST RATES FOR THE UNITED STATES OF AMERICA, AND FAST!”

The Federal Open Market Committee said in a statement that inflation is still “elevated.” The “target range” is now 3.75-4 percent, and they argued that the increase will “support a timelier return to the Committee's 2 percent [inflation] goal."

After the announcement, the Dow Jones closed 631 points lower than opening.

“Economic activity is expanding at a solid pace. While uncertainty remains elevated owing, in part, to geopolitical developments, domestic spending has been resilient,” the statement read. “Productivity growth is strong, and capital investment is robust. Job gains have kept pace with the workforce, and the unemployment rate has changed little.”

The president was a staunch critic of former Federal Reserve Chair Jerome Powell, as he wanted strong rate cuts rather than keeping them the same. The rates were cut slightly in December. 

"I have nothing for you on a discussion with the president," Chair Kevin Warsh, who Trump nominated, said in a press conference after the announcement.

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