Fed Expected to Hike Rates, Defying Trump — SkimNews
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- Federal Reserve is expected to raise its benchmark interest rate, a move the AP and New York Times both frame as defying Trump's demands for lower borrowing costs.
- Warsh had ended Trump's war with the central bank upon his arrival at the Fed, but the Wall Street Journal frames an imminent rate hike as the first major test of that truce.
Why it matters: A rate hike would directly contradict Trump's stated preference for lower rates, and the Wall Street Journal notes that Warsh's appointment was meant to cool that fight — making the hike an immediate stress test of the new détente between the White House and the Fed.
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