Trump blasts Fed over interest rates

The Federal Reserve is expected to raise interest rates by 25 basis points, increasing them from 3.75% to 4%, on September 16, according to the CME Group's FedWatch tool which predicts a near 90% likelihood of this happening. This move aims to combat elevated inflation that has persisted despite previous efforts to stabilize it. The decision is likely to face opposition from President Donald Trump, who has repeatedly demanded lower interest rates and criticized the Federal Reserve for not aligning with his economic goals. Despite political pressures, financial markets are anticipating the rate hike, reflecting a consensus among economists that such action is necessary given current inflationary conditions, including soaring oil prices above $100 per barrel and rising gasoline costs in the U.S., which stand at an average of $4.32 per gallon.