No surprise…..
The US Inflation rate keeps climbing in part due to Trump’s War and Other action’s
Borrowing money IS gonna get more expensive
For Trump to try to bully the Fed IS just NOT a Reality….
“The Federal Reserve raised interest rates Wednesday for the first time in three years, a sharp reversal that began taking back cuts it made last year and implicitly undercut the White House’s insistence that inflation isn’t a concern,” the Wall Street Journal reports.
“The increase, approved unanimously, will raise the benchmark federal-funds rate range by a quarter point to between 3.75% and 4%.”
CNBC: “Updated projections the committee released Wednesday showed that a strong majority of officials think another hike is possible later this year.”
Bloomberg: “With their decision to raise rates, policymakers also defied Trump, who recently threatened to escalate his trade wars if the Fed doesn’t lower interest rates.”
Update…..
“President Donald Trump demanded an interest-rate cut after the Federal Reserve raised rates by a quarter percentage point, defying his repeated calls for lower borrowing costs,” Bloomberg reports.
CNBC: Trump demands 1% or lower interest rate after first Fed hike since 2023.
Update #2….
Bullshit line…..
“President Trump said he was standing by Federal Reserve Chairman Kevin Warsh and that he spoke to him just before the central bank unanimously voted to raise interest rates,” the Wall Street Journal reports.
Said Trump: “I’m relying on Kevin. But he has a very tough board. I talked to Kevin. I said ‘you might as well vote with the board because it’s not going to matter.’”
He added: “I said ‘do what you want.’”
Bloomberg: Warsh declines comment on any discussion with President Trump.
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