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Story summary
- U.S. President Donald Trump criticized Fed Chair Kevin Warsh after Federal Reserve (Fed) raised rates on Sept. 16.
- The Fed lifted the federal funds rate by 25 basis points to 3.75%-4.00%.
- Trump said the board is hostile, political, and that rates are too high.
- Inflation ran 4.2% in May, 67 months above the Fed’s 2% target.
- NY Fed economists estimate Trump’s tariffs added 2.9 points to goods-price inflation by Feb 2026.