'The Best Credit in the World': Trump responds to the Fed's interest-rate hike

The Federal Reserve Wednesday raised its interest rate target by 25 points, to 4.0%, the first hike under new Chairman Kevin Warsh and the first in three years.

President Trump later slammed the move, meant to help stem inflation, saying the interest rate should be at the most 1%. He posted:

"Interest Rates in the United States should be 1%, or less, because we are the Best Credit in the World — BY FAR. Our Country is BOOMING with new Investment! If we stopped Trading with every country that we have a Deficit with, which is most of them, we would make, at least, 1.5 Trillion Dollars a year. The word 'Deficit' is nothing more than a fancy word for LOSS. We are "carrying" almost every country in the World, and that cannot go on any longer. LOWER THE INTEREST RATES FOR THE UNITED STATES OF AMERICA, AND FAST! President DONALD J. TRUMP

The vote by the Fed's monetary policy committee to raise the rate was unanimous. Many observers expect a second hike before the end of the year.

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