President Donald Trump said interest rates should be one percent or less after the Federal Reserve unanimously hiked rates by a quarter of a percent on Wednesday.
\n\nTrump took to Truth Social to call for rates to be lowered “fast.”
\n\n“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. LOWER THE INTEREST RATES FOR THE UNITED STATES OF AMERICA, AND FAST!” he added.
\n\nThe federal funds rate now sits in the range of 3.75 percent and four percent after the decision, which is the first rate hike since 2023. Fed chairman Kevin Warsh, who was sworn into the post in May, said the hike “comes at a time when the economy appears to be strengthening.”
\n\nAs Breitbart News Economic and Finance Editor John Carney reported:
\n\nThe move marks a reversal of the Fed’s previous rounds of cuts in late 2024 and 2025, moves that were spurred by concerns among Fed officials that the economy was slowing and the labor market was weakening. The increase suggests Fed officials are now confident in the resilience of the economy and view stubborn inflation as…
Original source: https://www.breitbart.com/economy/
