Politics

The Fed — now led by Trump's own pick, Kevin Warsh — raised interest rates for the first time in three years, defying Trump's repeated demands to cut them. Trump says he told Warsh "you might as well vote with the board" and blames politics, not inflation, for the move; Warsh says the hike was needed to keep inflation in check. Is this proof the Fed still works independently even under a president's own appointee, or a sign Trump picked the wrong man for the job?

Trump personally chose Warsh to lead the Fed — and is now furious that Warsh raised rates instead of cutting them.