Federal Reserve raises rates for first time since 2023
The Financial Times reports that the Fed signalled readiness for further action to curb inflation, despite Donald Trump’s calls for low borrowing costs.
TLDR
The Financial Times reports that the Federal Reserve raised interest rates for the first time since 2023 under chair Kevin Warsh, defying Donald Trump’s push for low borrowing costs. The Fed signalled it was prepared to take further steps to curb inflation. Trump subsequently called for borrowing costs of 1%, the FT says.
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