Deccan Herald ·
Economy, business and finance
Trump lashes out at Fed after Kevin Warsh backs rate hike
US President Donald Trump criticised the Federal Reserve’s 25-basis-point rate hike to 3.75%-4.00%, calling for rates to be slashed to 1% or lower. Trump also attacked Fed chief Kevin Warsh, accusing the board of being political and doing the wrong thing.
Trump's screed came shortly after Fed policymakers unanimously agreed on Wednesday to raise rates by 25 basis points to 3.75%-4.00%, an action that Warsh described at a subsequent press conference as "a sober decision, serious decision, responsible decision."