How Donald Trump and the Fed might go to war

Trump has promised a jobs boom. A terrific jobs boom. The best jobs boom ever. But right now, the Fed doesn't actually want a jobs boom.

It's on.
(Image credit: Illustration | Images courtesy Drew Angerer/Getty Images, REUTERS / Alamy Stock Photo)

After a year of will-they-or-won't-they false starts, the Federal Reserve hiked interest rates yesterday. It was a modest increase of just 0.25 percentage points, and the first hike since last December. Nonetheless, the decision also ratcheted up the chances of a showdown between Fed officials and President-elect Trump.

Here's the deal: Trump has promised a jobs boom. A terrific jobs boom. The best jobs boom ever. But right now, the Fed doesn't actually want a jobs boom.

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Jeff Spross

Jeff Spross was the economics and business correspondent at TheWeek.com. He was previously a reporter at ThinkProgress.