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The president accused Fed board members appointed by past administrations of voting to raise rates, though the Fed hasn't raised rates in over three years
President Donald Trump outside the White House. (Tasos Katopodis/Getty Images)
President Donald Trump on Wednesday accused the Federal Reserve's board of governors of keeping interest rates high for political reasons, while sparing newly installed Fed Chairman Kevin Warsh from his criticism.
"The problem is he has a board, and it's a political board," Trump told reporters. "People put in by Obama, Biden, and me, and there are quite a few members still left, as you understand, and so they vote to raise interest rates. I don't know if they're doing it because they think they're doing a good thing or because they like the politics of it." Trump said Warsh, who took over as chairman in May, is doing a "great job."
