President Donald Trump renewed his attacks on the Federal Reserve, commenting publicly on the central bank for the first time following last week’s interest-rate hike and reports he has discussed firing Chairman Jerome Powell.
The president fired off two tweets this week objecting to a rate hike. In one of them, he called it "incredible" that the Fed would consider raising rates again when "the outside world is blowing up around us."
Federal Reserve Chairman Jerome Powell cast a bright picture of the U.S. economy Wednesday and appeared to suggest that the Fed might consider a pause in its interest rate hikes next year, igniting a rally on Wall Street.
Minutes of the Federal Reserve's latest policy meeting show that a few participants thought the Fed's key rate would need to "become modestly restrictive for a time" to prevent inflation from climbing too high.