'Not Backed By Compelling Case': White House Calls Fed Rate Hike 'Unfortunate Decision'

The Fed raised its benchmark interest rate by 25 basis points to a range of 3.75% to 4%, its first increase since 2023.

The White House on Wednesday criticised the US Federal Reserve’s decision to raise interest rates, calling the move “unfortunate" and saying it was not backed by a compelling economic case.

The comments came after Fed Chair Kevin Warsh defended the rate increase, saying inflation remained too high and had stayed elevated for too long.

News18 (English) · 17 Sept, 1:33

Economy, business and finance

'Not Backed By Compelling Case': White House Calls Fed Rate Hike 'Unfortunate Decision'

The Fed raised its benchmark interest rate by 25 basis points to a range of 3.75% to 4%, its first increase since 2023.

The White House on Wednesday criticised the US Federal Reserve’s decision to raise interest rates, calling the move “unfortunate" and saying it was not backed by a compelling economic case.

The comments came after Fed Chair Kevin Warsh defended the rate increase, saying inflation remained too high and had stayed elevated for too long.