The US Federal Reserve has once again raised the short-term interest rates in a move confirmed on Wednesday. This is now the 8th time since 2015 that the Fed raises the rates after years of historical lows.
President Trump attacked the Federal Reserve on Thursday saying that he disagreed with a number of policy decisions made by the central bank and its chairman Jerome Powell. Powell was nominated to the position by Trump just a few months ago. The president said that he didn’t “necessarily” agree with the two interest rate hikes so far this year.
The Federal Reserve has released its economic forecast for 2018 and while economic growth is expected to rise at a moderate pace, inflation will move up on a 12-month basis but will eventually stabilize.