Fed Raises Interest Rates Amid Inflation Concerns; Trump Criticizes Move

The U.S. Federal Reserve has announced its first interest rate increase since July 2023, with Fed Chair Kevin Warsh citing persistent high inflation as the primary driver for the decision. The quarter-percent hike aims to curb rising prices, which Warsh stated have been elevated for too long and are not moving towards the Fed's objectives.

President Trump publicly criticized the rate increase, asserting that the U.S. economy is performing so well that interest rates should be significantly lower, potentially at 1% or less. This divergence in opinion highlights ongoing debates about the appropriate monetary policy to manage economic growth and inflation. Meanwhile, other political developments include the House voting to hold billionaire Leon Black in contempt and arrests of non-profit workers in Los Angeles over alleged corruption, as well as a lawsuit against Texas Attorney General Ken Paxton concerning the death of a pregnant woman denied an abortion.