Summary
- President Donald Trump said U.S. inflation remains at an excessively high level.
- The Fed said it raised its benchmark interest rate by 0.25 percentage point at its Federal Open Market Committee meeting, bringing it to 3.75% to 4.00%.
- Trump said he still trusts Fed Chair Kevin Warsh despite the rate increase and wants him to conduct monetary policy independently.
Forecast Trend Report by Period
President Donald Trump said U.S. inflation remains too high, while reaffirming his trust in Federal Reserve Chair Kevin Warsh after the central bank raised interest rates.
The Kobeissi Letter reported on September 16 that Trump said "inflation is too high." Despite the Fed's rate increase that day, he said he still trusts Warsh. Trump also said he wants Warsh to conduct monetary policy independently.
Earlier on September 16, the Fed raised its benchmark interest rate by 0.25 percentage point to 3.75% to 4.00% at its Federal Open Market Committee meeting. It marked the first rate increase since July 2023, the first hike in about three years.
The remarks are notable because Trump had repeatedly called for rate cuts, yet publicly underscored both his trust in Warsh and the Fed chair's monetary-policy independence even after the increase.
