Navarro Calls Fed Rate Hike 'A Bad Decision' — SkimNews
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- Peter Navarro, White House adviser, on Wednesday blasted the Federal Reserve's move to raise interest rates, calling it "a bad decision."
- The Federal Reserve's Federal Open Market Committee (FOMC), led by Fed Chair Kevin Warsh, voted unanimously to increase the central bank's benchmark interest rate, marking the first such hike in several years.
Why it matters: A sitting White House adviser publicly attacking the Fed chair's unanimous rate-hike decision is a rare display of internal political friction aimed at an institution designed to operate independently of White House pressure.
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