Fed raises interest rates for the first time since 2023; Trump claims the rate should have been nearly four times lower

The United States Federal Reserve (Fed) raised its benchmark interest rate by 25 basis points to a range of 3.75%-4%, and the majority of Fed officials anticipate another hike before the end of the year. The Fed and #39;s decision increases borrowing costs in the United States, caused a drop in US stock markets, and drew a sharp reaction from the White House.

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