New Fed chair bucks Trump, hikes interest rate as inflation fears persist

The Federal Reserve has raised the interest rate as fears of inflation persist despite economic optimism from President Donald Trump.

On Wednesday, the Fed voted unanimously to increase interest rates by a quarter of a percentage point, the first rate-hike since 2023.

‘We should have the LOWEST RATE of any country in the World.’

“Economic activity is expanding at a solid pace. While uncertainty remains elevated owing, in part, to geopolitical developments, domestic spending has been resilient. Productivity growth is strong, and capital investment is robust. Job gains have kept pace with the workforce, and the unemployment rate has changed little,” a press release from the Fed said.

“Inflation remains elevated. Today’s policy action will support a timelier return to the Committee’s 2 percent goal. The Committee will deliver