Interest Rate Hike: A Long Overdue Response to Stubborn Inflation The Federal Reserve's decision to raise interest rates by a quarter point has been met with widespread approval, but this outcome was far from guaranteed.
The hike was long overdue, given the stubborn inflation that has plagued the economy for five years. This development highlights the disconnect between the White House and the Federal Reserve.
President Trump had called for "the lowest rates in the world," but his nominee, Kevin Warsh, ultimately decided to hike interest rates.