Federal Reserve hikes key rate for 1st time in 3 years, defying Trump demands for a cut
The Federal Reserve raised its benchmark interest rate for the first time since 2023 to combat high inflation. This decision defies demands from President Donald Trump for a rate cut. Trump criticized the board governors following the announcement.
President Donald Trump is blasting Federal Reserve governors after the board raised its benchmark interest rate Wednesday for the first time since 2023 in an effort to quell stubbornly high inflation.
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