President Trump reacted to Wednesday's Fed rate hike, saying "Interest Rates in the United States should be 1%, or less" and acknowledging he discussed with Kevin Warsh the Fed chair's plans for how to vote ahead of time.
"I talked to Kevin and I said, 'you might as well vote with the board because it's not going to matter,'" Trump told reporters Wednesday evening.
The Federal Open Market Committee voted unanimously Wednesday to raise rates by 25 basis points, its first hike in three years and the first under Warsh.
The president, who has spent more than a year calling for lower rates, first posted on Truth Social that rates should be dropping and that the trade deficit was a reason to "LOWER THE INTEREST RATES FOR THE UNITED STATES OF AMERICA, AND FAST!" days after he threatened to stop trading with countries that have a trade deficit unless the Fed cuts rates.
Later Wednesday, when he was asked by reporters if he still has confidence in Warsh, Trump said he did, but said "he's got a very tough board." He called the FOMC "a bunch of politicians."
#Trump #warsh #united #states
"I talked to Kevin and I said, 'you might as well vote with the board because it's not going to matter,'" Trump told reporters Wednesday evening.
The Federal Open Market Committee voted unanimously Wednesday to raise rates by 25 basis points, its first hike in three years and the first under Warsh.
The president, who has spent more than a year calling for lower rates, first posted on Truth Social that rates should be dropping and that the trade deficit was a reason to "LOWER THE INTEREST RATES FOR THE UNITED STATES OF AMERICA, AND FAST!" days after he threatened to stop trading with countries that have a trade deficit unless the Fed cuts rates.
Later Wednesday, when he was asked by reporters if he still has confidence in Warsh, Trump said he did, but said "he's got a very tough board." He called the FOMC "a bunch of politicians."
#Trump #warsh #united #states
2 months ago
