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Stocks rose as the Fed hiked rates. Semafor says President Donald Trump backed Fed nominee Kevin Warsh after the decision, following Trump’s criticism that stopped short of faulting the Fed chair.
President Trump said he was standing by Fed Chairman Kevin Warsh and that he spoke to him just before the central bank unanimously voted to raise interest rates.
Donald Trump criticized the Federal Reserve after a move to raise interest rates to calm persistent inflation, reacting to comments attributed to Warsh supporting a rate hike.