Trump is set to win the battle on interest rates, but US economy will pay the price
by Guardian Staff from on (#2FKPT)
Donald Trump pushed the Federal Reserve to raise rates, but the policy could backfire on president's economic plan
Donald Trump spent much of his campaign for the White House attacking the Federal Reserve chief Janet Yellen. Shouting at the camera in the first presidential debate, he even went as far as to accuse the head of the central bank of "being political", spurring her to deny she was anything but impartial.
Trump's anger was a lightning rod for American savers, who like savers across the developed world, have suffered eight years of ultra-low interest rates. A rate rise this week will be taken as another sign by commentators that the Fed is slowly capitulating to the new president's tub-thumping campaign.
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