The record
Written from the 4 reports below. Nothing here is unsourced.
- The US Federal Reserve raised its benchmark interest rate by 25 basis points to a 3.75-4 per cent range, the first rate hike since 2023.
- President Donald Trump criticised the Fed board as 'very political' and accused it of raising rates to hurt his presidency.
- Fed Chair Kevin Warsh, whom Trump nominated, defended the decision, saying inflation is too high and has been for too long.
- The Fed said inflation remains elevated and the rate increase would support a return to its 2 per cent inflation goal.
- The rate decision matters because Fed projections indicate one more increase this year, with inflation expected to reach the 2 per cent target only in 2029.
What to watch next
- Whether the Fed proceeds with its projected one more rate increase this year.
- Whether Trump escalates pressure on the Fed or Warsh despite saying he wants the chair to remain independent.
- Whether inflation moves toward the Fed's 2 per cent target after the rate hike.
What changed4
Every report on this story, newest first. Times are when each outlet published.
Mint[1]
Another Fed hike to follow? Goldman Sachs says US Federal Reserve could raise interest rates again in OctoberMint[2]
‘1% or less’: Trump demands rate cut after US Fed raises interest rates for first time since 2023The Hindu BusinessLine[3]
Trump criticises Fed chief Kevin Warsh after US interest rate hikeThe Times of India[4]
‘We’re the best credit’: Trump fumes after 1st Fed rate hike in over 3 yrs
Who said what9
Only words found exactly in the article are shown, attributed and linked to the line they came from.
Donald Trump
US President
5 quotes · 3 outlets
“The board is very hostile. They’re very political. They’re doing the wrong thing. They’re a bunch of politicians”
In the article
…to deliver hikes that the Fed presented as supporting "a timelier return" to the 2% inflation target at consecutive meetings. Meanwhile, Trump has made his criticism of the Fed’s rate hike public, while backing Warsh. “ The board is very hostile. They’re very political. They’re doing the wrong thing. They’re a bunch of politicians ,” Trump told reporters in North Carolina ahead of a midterm campaign rally, adding, “They’re raising rates to make Trump do as bad as they can possibly do.” In a post on Truth Social, Trump suggested that the interest…
“Interest Rates in the United States should be 1%, or less, because we are the Best Credit in the World — BY FAR.”
In the article
…ahead of a midterm campaign rally, adding, “They’re raising rates to make Trump do as bad as they can possibly do.” In a post on Truth Social, Trump suggested that the interest rates in the US should be 1% or less. “ Interest Rates in the United States should be 1%, or less, because we are the Best Credit in the World — BY FAR. Our Country is BOOMING with new Investment! If we stopped Trading with every country that we have a Deficit with, which is most of them, we would make, at least, 1.5 Trillion Dollars a year. The word “Deficit” is…
Kevin Warsh
Fed Chair
4 quotes · 3 outlets
“persistent inflationary pressures”
In the article
…dramatic reduction in interest rates, to 1% or less, would benefit the American economy, which he claimed was attracting investment and had strong credit credentials. The Federal Reserve raised interest rates to combat persistent inflationary pressures , emphasizing that inflation remained too high despite resilient economic activity and a stable labor market. Higher interest rates can lead to increased borrowing costs for mortgages, car loans, and credit cards,…
“a sober decision, serious decision, responsible decision.”
In the article
…concerns Trump’s screed came shortly after Fed policymakers unanimously agreed on Wednesday to raise rates by 25 basis points to 3.75%-4.00%, an action that Warsh described at a subsequent press conference as “ a sober decision, serious decision, responsible decision. ” “The plain fact is that inflation is too high and has been for too long,” Warsh said. And rates are likely going still higher. New policy projections showed 16 of 18 policymakers anticipate at least one more…
Related reporting
Grouped by subject or cast while the story boundary is under human review. No chronology is implied.
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Why it matters4
Who is affected first and what likely follows, with a direction and a horizon. Extracted from the reports, never invented.
- US Borrowers higher borrowing costs· immediate
- Goldman Sachs trading volume spike· immediate
- Federal Reserve political pressure· weeks
- US Dollar currency appreciation pressure· days
Coverage3
All filed from India
Named United States · United States Supreme Court · White House · Donald Trump · Federal Open Market Committee · Federal Reserve · Goldman Sachs · Jerome Powell · Kevin Warsh · Kush Desai · Reuters · The Associated Press
- MintAnother Fed hike to follow? Goldman Sachs says US Federal Reserve could raise interest rates again in October[1]English national· neutral
- Mint‘1% or less’: Trump demands rate cut after US Fed raises interest rates for first time since 2023[2]English national· critical
- The Hindu BusinessLineTrump criticises Fed chief Kevin Warsh after US interest rate hike[3]English national· critical
- The Times of India‘We’re the best credit’: Trump fumes after 1st Fed rate hike in over 3 yrs[4]English national· critical
The 4 reports are listed beside the record.
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