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Trump Says Fed Rate Increase Would Be Wrong Ahead of Warsh Debut
President Donald Trump said the Federal Reserve would be wrong to raise interest rates as his nominee Kevin Warsh prepares to chair his first Fed policy meeting. Trump, in an interview with NBC’s Meet the Press, sought to push back against market sentiment after a blowout US jobs report for May spurred bets that the Fed’s next move will be a rate hike to keep inflation in check. “Nowadays when you have good reports, the market goes down because they think they’re going to raise interest rates,” Trump said. “There’s no reason to raise interest rates.” Trump’s comment, recorded Friday and aired ... (full story)
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