Navarro blasts Fed rate hike as 'bad decision' — SkimNews
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- Peter Navarro, a White House adviser, on Wednesday blasted the Federal Reserve's interest rate increase as 'a bad decision.'
- The Federal Reserve's FOMC, led by Chair Kevin Warsh, voted unanimously to raise the benchmark interest rate — a move the source describes as the Fed's first rate increase in several years.
Why it matters: Navarro's public criticism puts the White House on record opposing a rate hike that the FOMC, under Chair Kevin Warsh, approved unanimously with no internal dissent. With zero opposition inside the Fed to point to, the administration is publicly rebuking a central bank decision rather than deferring to its independence.
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