Fed raises rates 25bp to 3.75%-4.00%, first hike since 2023; Trump says he told Warsh to vote for it, White House criticises decision

The Fed raised rates 25bp to 3.75%-4.00%, its first tightening since 2023, despite Trump's calls for cuts. Trump said he advised Chairman Kevin Warsh to vote for the hike with the rest of the board, knowing a lone dissent would change nothing, and again demanded lower rates, calling them "too high"; the White House sharply criticised the decision.

Detected & updated continuously · Source: Nebula