White House Calls Fed Rate Increase Regrettable
JH Kim
Summary
- The White House said the Federal Reserve's decision to raise interest rates was "regrettable."
- It said the Fed announced a 25-basis-point increase in its benchmark interest rate that day.
- The Fed said tightening is needed to bring inflation back to its 2% target.
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The White House expressed regret over the Federal Reserve's decision to raise interest rates.
Walter Bloomberg reported on September 16 that the White House described the Fed's latest rate increase as "regrettable."
It did not provide specific reasons for that view or spell out its stance on future monetary policy.
The Fed announced the same day that it would raise its benchmark interest rate by 25 basis points. It also said tighter policy is needed to bring inflation back to its 2% target.
JH Kim
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