President Donald Trump demanded the Federal Reserve slash interest rates to 1% or lower on Wednesday. Fed Chair Kevin Warsh had just lifted rates to 3.75%-4%, the first hike since 2023. The FOMC decision was unanimous, with 16 of 18 officials expecting another increase before year-end. Trump also threatened to cut trade with surplus countries, claiming this could add at least $1.5 trillion annually to federal coffers. Bitcoin and gold showed volatile reactions in the minutes following the announcement.
Source: Read the original article
