White House Calls Rate Increase 'Rather Unfortunate'
Dow Jones
1 hour ago
White House spokesman Kush Desai said the Federal Reserve's decision to raise interest rates was "rather unfortunate."
"Look, I think the president has been abundantly clear...on where he wanted interest rates to go. And certainly, today's rather unfortunate decision by the Federal Reserve to hike interest rates was not, from the administration's point of view, backed by a particularly compelling economic case," Desai said during an interview with Fox News.
He added, "This isn't the Biden era. The president and Republicans aren't spending trillions of dollars on Covid stimulus, like Democrats and Joe Biden did. There is no runaway aggregate demand that we need to rein in with higher interest rates."
At the request of the copyright holder, you need to log in to view this content
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.