The Fed and the US economy
Ongoing coverage of Fed rate decisions, what Fed officials say, the fight over Fed independence, and US jobs, inflation and Treasury yield data, updated daily.
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Federal Reserve
Administration
What they said
What the key figures said on the record, as reported.
Donald Trump43
Kevin Warsh38
Scott Bessent9
Kevin Hassett9
Lisa Cook5
Christopher Waller4
Neel Kashkari4Beth Hammack4
Austan Goolsbee3
Michelle Bowman2
Trump Says Warsh Should Have Voted Against Fed Rate HikePresident Donald Trump said Federal Reserve Chairman Kevin Warsh should have opposed the central bank’s decision to raise interest rates last month, while saying he did not blame Warsh for the move.
B
Bloomberg News
Trump blasts Fed over interest ratesThe Federal Reserve raised interest rates by 0.25 percentage points on Wednesday, its first increase since 2023. President Trump criticized the central bank and said U.S. rates should be “1% or less.”
C
CBS News
Treasuries Gain as Confidence in Warsh Grows, Trump Threatens EU TariffsUS equity futures and Treasuries rise a day after the Federal Reserve raised interest rates, as confidence grows in Chair Kevin Warsh’s resolve to fight inflation. President Donald Trump threatens “very serious” tariffs on the EU if its closer ties with Canada harm the US.
B
Bloomberg Television
Trump Backs Warsh After Fed Defies His Call for Rate CutsPresident Donald Trump said he still trusted Federal Reserve Chair Kevin Warsh while criticizing what he called a “hostile” board. The Fed unanimously rejected his demand for lower borrowing costs; its rate hike and pledge to contain inflation sent global bond yields lower and eased pressure on markets.
B
Bloomberg Television
Trump slams Fed hike as Canada moves closer to EuropeU.S. President Donald Trump lashes out at the Federal Reserve after his pick, Kevin Warsh, backs a rate hike. Canada and Europe are forging a new alliance, while the United States acknowledges it has weapons in space in remarks aimed at deterring Russia and China. Scientists are also examining testosterone use among menopausal women.
R
Reuters
Trump Calls for Lower US Rates After Warsh Delivers HikeGlobal bond yields retreated Thursday after the Federal Reserve raised rates and pledged to tame inflation, easing pressure in markets. President Donald Trump called for lower US rates after Warsh delivered the hike, while traders turned to Friday’s key Bank of Japan decision.
B
Bloomberg Television
Trump slams Federal Reserve board for rate hike, backs Kevin WarshPresident Trump criticized the Federal Reserve board for raising interest rates while expressing confidence in Federal Reserve Chairman Kevin Warsh. He also said his administration should receive credit for its work on the Kennedy Center, which was closed for renovations.
N
NBC News
Trump Calls Fed Rate Hike ‘Unfortunate,’ Demands a CutPresident Donald Trump says the Federal Reserve was wrong to raise interest rates by a quarter percentage point. In a Truth Social post, he argued that US rates should be 1% or lower, while White House Council of Economic Advisers Chairman Chris Phelan said inflation is falling by any measure.
B
Bloomberg Television
Trump says US interest rates should be 1% or lowerPresident Donald Trump said on Wednesday that US interest rates should be 1% or lower and urged rates to be cut quickly.
R
Reuters
Trump demands 1% or lower interest rate after first Fed hike since 2023President Donald Trump called on the Federal Reserve to cut interest rates to 1% or less, just hours after the central bank announced its first rate increase since 2023.
C
CNBC
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