← The Fed Raises Rates for the First Time Since 2023 as Trump's Own Chair Says "The Plain Fact Is That Inflation Is Too High and Has Been for Too Long" — Trump Answers That Rates "Should Be 1%, or Less," Calls the Board "a Bunch of Politicians," and Says He Told Kevin Warsh "You Might as Well Vote With the Board," While Elizabeth Warren Calls Warsh Trump's "Sock Puppet"
“It’s a monumental mistake. … When the Fed raises rates on top of an energy price shock, it runs the very real risk of an overreaction in driving the economy down into a recession or worse. … It is inexplicable that the Fed and Kevin Warsh do not understand that history. [What the Fed is doing is] ahistorical and bad economics.
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