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Trump's initial reaction to rate hikes
The U.S. Federal Reserve Board raised the benchmark interest rate by a quarter percentage point to a range of 3.75% to 4.00%, continuing to address inflationary pressures, with expectations of another increase before the end of the year involving 16 out of 18 officials. In response to the decision, former U.S. President Donald Trump sharply criticized, calling for a swift reduction of interest rates to 1% or lower, arguing that rates should be kept low to support economic growth. The Federal Reserve emphasized its focus on price stability, affirming that inflation remains high. However, it also noted that the U.S. economy is showing strong resilience, and the labor market remains close to full employment. The Chair of the Fed explained that the rate hike is a measured step toward stabilizing prices, and that current monetary policies aim to reduce inflation and foster sustainable growth.
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