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Trump criticizes rate hikes amid economic concerns
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The U.S. Federal Reserve raised interest rates, leading to a decline in Wall Street stocks and a rise in the dollar, in an effort to calm the economy and reduce inflationary pressures. Although the decision boosts the attractiveness of the dollar and increases borrowing costs, it may slow economic growth and employment, and impact stock and bond prices, especially as bond yields rose above 5%. President Trump expressed his anger over the decision, accused the Fed of hostility, and warned of its implications for the US economy, as markets continued to decline and purchasing power was affected ahead of the midterm elections scheduled for November.
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