Fed raises interest rates amid criticism from Trump

Federal Reserve.
(Image credit: SAUL LOEB/AFP/Getty Images)

After weeks of stock market turbulence, the Federal Reserve has opted to raise interest rates by 0.25 percent, it announced Wednesday.

Wednesday's hike from 2.25 to 2.5 percent was expected, and was thought to be one reason markets have dropped for the past month. It also flies in the face of President Trump, who pushed the Fed to let things be amid "a very strong dollar and virtually no inflation" in a Monday tweet.

Subscribe to The Week

Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.

SUBSCRIBE & SAVE
https://cdn.mos.cms.futurecdn.net/flexiimages/jacafc5zvs1692883516.jpg

Sign up for The Week's Free Newsletters

From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.

From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.

Sign up
To continue reading this article...
Continue reading this article and get limited website access each month.
Get unlimited website access, exclusive newsletters plus much more.
Cancel or pause at any time.
Already a subscriber to The Week?
Not sure which email you used for your subscription? Contact us
Kathryn Krawczyk

Kathryn is a graduate of Syracuse University, with degrees in magazine journalism and information technology, along with hours to earn another degree after working at SU's independent paper The Daily Orange. She's currently recovering from a horse addiction while living in New York City, and likes to share her extremely dry sense of humor on Twitter.