President Donald Trump slammed the Federal Reserve on Tuesday for incessantly raising interest rates and said cutting rates by a full point would make the economy surge.
The United States Federal Reserve announced on Wednesday, after a two-day policy meeting, that it would raise interest rates for the third time this year. The decision, which had been widely expected, raised the federal funds rate by 25 basis points, to a range of 2% to 2.25%.
Robust hiring by United States employers in President Donald Trump's first full month in power, along with rising wages, have economists tipping a faster-than-anticipated cycle of interest rate increases by the US Federal Reserve, beginning this week.