WSJ: Fed rate hike draws mild response as Trump backs Warsh pick
WSJ reports the Fed raised rates on Wednesday with a mild response, seen as signaling Trump is standing by Fed Chairman Kevin Warsh despite prior criticism of higher rates.
President Trump spent months criticizing the Federal Reserve for keeping interest rates too high. On Wednesday, the central bank raised rates, and Trump said he was standing by the chairman he selected. The subdued response was the clearest sign yet that Fed Chairman Kevin…