Trump Faults ‘Hostile’ Fed Board for Interest-Rate Hike

The Federal Reserve implemented a 0.25% interest rate hike to combat inflation, marking the first increase since 2023. This decision affects mortgages, credit cards, and the prices of gas and food. President Donald Trump criticized the Federal Reserve board, describing them as hostile for ignoring his requests to lower borrowing costs. Despite this criticism, Trump stated he maintains confidence in Fed Chairman Kevin Warsh, who led the board in its unanimous decision to raise rates.