Summary
- President Donald Trump said U.S. inflation remains at an excessively high level.
- The Fed raised its benchmark interest rate by 0.25 percentage point to 3.75% to 4.00% at its Federal Open Market Committee meeting, marking the first rate increase in about three years since July 2023.
- Trump said that despite the rate increase decision, he still trusts Fed Chair Kevin Warsh and wants him to conduct monetary policy independently.
Forecast Trend Report by Period
President Donald Trump said U.S. inflation remains too high and reaffirmed his trust in Federal Reserve Chair Kevin Warsh even after the central bank raised interest rates.
The Kobeissi Letter reported on September 16 that Trump said inflation was "too high." He also said he still trusts Warsh despite the Fed's rate increase earlier that day and wants the Fed chair to conduct monetary policy independently.
Earlier on September 16, the Fed raised its benchmark interest rate by 0.25 percentage point to 3.75% to 4.00% at its Federal Open Market Committee meeting. It was the first rate increase in about three years since July 2023.
The remarks drew attention because Trump had repeatedly called for rate cuts but publicly underscored Warsh's independence on monetary policy and his trust in the Fed chair even after the increase.
Suehyeon Lee
shlee@bloomingbit.ioI'm reporter Suehyeon Lee, your Web3 Moderator.