Trump after Fed raises rates: "LOWER THE INTEREST RATES FOR THE UNITED STATES OF AMERICA, AND FAST!"

On Wednesday, the Federal Reserve's policy committee, led by Chair Kevin Warsh, unanimously raised its benchmark interest rate to 3.75%-4%; Warsh said the step would help inflation return sooner to the Fed's 2% goal. White House adviser Peter Navarro called the move a mistake and said it would leave Americans with less to spend and slow the economy. Two hours after the announcement, President Donald Trump responded on Truth Social by urging the Fed to lower U.S. rates to 1%, and in the same post he tied that demand to complaints about U.S. trade balances, suggesting that ending commerce with countries where the U.S. buys more than it sells could bring at least $1.5 trillion yearly. Markets had expected the quarter-point increase, which came as inflation remains above target amid the war with Iran and shortly before the November midterms.