Trump has renewed pressure on the Federal Reserve, demanding rates of 1% or lower shortly after the central bank raised its benchmark rate to 3.75%-4% to tackle persistent inflation. The move has put Fed Chair Kevin Warsh, Trump’s own appointee, in the spotlight, as Warsh defended the hike and warned that inflation remains too high. The clash also highlights tensions over the Fed’s independence, with Trump linking interest rates to US trade deficits and continuing his broader criticism of officials he has appointed.
