Trump Pressures Federal Reserve for Rate Cuts Following Hike

President Donald Trump has publicly demanded that the Federal Reserve lower interest rates to 1% or below, shortly after Fed Chair Kevin Warsh announced a rate hike to a range of 3.75%-4%. This decision, the first since 2023, was supported by 16 of 18 officials who anticipate further increases this year. Trump criticized the move on Truth Social, arguing for lower borrowing costs, while the White House maintained that the President respects the independence of the Federal Reserve. Bitcoin and gold prices showed volatility in response to the announcement.