White House: The Fed's decision to raise interest rates is "quite regrettable"

White House spokesman Kush Desai said, "From the government's perspective, the Fed's decision to raise interest rates today is rather regrettable and does not have a particularly compelling economic basis."

When asked whether President Trump still believes in the independence of the Federal Reserve Chair, Desai replied:

certainly.

Earlier on September 16, the Federal Reserve raised interest rates by 25 basis points as expected, and the dot plot showed an increasing hawkish bias.

More updates to follow.

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