President Trump says U.S. interest rates should be 1% or less after the Federal Reserve raised its benchmark interest rate by a quarter percentage point.
The Fed’s target range now stands at 3.75%-4%. Federal Reserve officials cited elevated inflation and said the rate increase would support a return toward the central bank’s 2% inflation goal.
Trump criticized the rate hike while arguing that the U.S. economy is performing strongly and attracting investment.
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