Donald Trump sharply criticised the Federal Reserve just hours after the US central bank defied the president’s calls for deep reductions in borrowing costs and left interest rates on hold.
The central bank on Wednesday kept its main interest rate at 4.25 per cent to 4.5 per cent and indicated it was now on pause, with Fed chair Jay Powell saying US rate-setters “do not need to be in a hurry to adjust our policy stance”.
Trump railed against the central bank on his Truth Social messaging platform, saying, “If the Fed had spent less time on [diversity, equity and inclusion], gender ideology, ‘green’ energy, and fake climate change, Inflation would never have been a problem”.
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