President Trump Wanted A Rate Cut — The Fed Gave Him A Rate Hike

The Federal Reserve unanimously raised its benchmark interest rate by a quarter percentage point Wednesday, rebuffing President Donald Trump’s calls for lower borrowing costs. The Federal Open Market Committee lifted the target range for the federal funds rate from 3.5%-3.75% to 3.75%-4.0%. It was the central bank’s first rate increase in more than three years, ...