White House Criticizes Fed's Interest Rate Hike Decision
The White House administration in the US stated that the central bank's move to raise interest rates lacks a convincing economic basis.
The White House announced that the Central Bank's decision to raise the policy interest rate by 25 basis points to the 3.75-4 percent range is economically unfounded and unfortunate.
Interest Rate Hike and White House Reaction
White House Spokesperson Kush Desai stated in an interview with Fox News that the decision to raise interest rates does not rely on a convincing economic justification from the administration's perspective. The spokesperson emphasized that the President's expectations regarding the trajectory of interest rates are very clear.
Fed Policy and Presidential Calls
United States President Donald Trump had long been calling on the Fed to cut interest rates. It drew attention that the policy rate was raised in line with expectations at the recent meeting.
The First Interest Rate Hike in Years
With the September meeting held, the policy interest rate was raised to the 3.75 to 4 percent range. This move was recorded as the institution's first interest rate hike step since 2023.