NewsMeter
President Donald Trump labeled the Federal Reserve Board "very hostile" and "very political" following a decision to raise the federal funds target rate by a quarter percentage point.
The central bank hiked interest rates on Wednesday, moving against the president's preference for lower borrowing costs.
Trump stated that he still has confidence in Fed Chair Kevin Warsh and is "relying on" him, despite the recent policy action.
Warsh, who was sworn in as the 17th head of the Federal Reserve on May 22, was selected by Trump to guide the Federal Open Market Committee (FOMC) toward lower interest rates.
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