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Trump demands 1% or lower interest rate after first Fed hike since 2023
- On Wednesday, September 16, 2026, the Federal Open Market Committee unanimously raised interest rates to 3.75–4.00%, the first hike since 2023. Hours later, President Donald Trump demanded on Truth Social that rates be cut to "1%, or less."
- Federal Reserve Chair Kevin Warsh defended the hike as a "sober decision, serious decision, responsible decision," citing elevated inflation driven by energy costs from the ongoing war with Iran as the primary rationale for tightening policy.
- Trump claimed the U.S. economy is "BOOMING with new Investment" and asserted that ending trade with deficit-running nations would generate "at least, 1.5 Trillion Dollars a year," characterizing the deficit as "nothing more than a fancy word for LOSS."
- White House spokesperson Kush Desai called the decision "rather unfortunate," while Warsh declined to discuss his private interactions with Trump. Trump later defended Warsh but blamed the "hostile" board for the rate increase despite appointing the chair himself.
- Projections indicate 16 of 18 policymakers anticipate at least one more quarter-point hike by year-end, maintaining the tightening cycle. The decision arrives just before the November midterm elections, complicating the political landscape for candidates focused on economic affordability.
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Total News Sources340
Leaning Left48Leaning Right55Center86Last UpdatedBias Distribution46% Center
Bias Distribution
- 46% of the sources are Center
46% Center
L 25%
C 46%
R 29%
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