Trump’s temper tantrum after rate hike. “The Federal Reserve raised interest rates Wednesday for the first time in three years, a sharp reversal that began taking back cuts it made last year and implicitly undercut the White House’s insistence that inflation isn’t a concern,” the Wall Street Journal reported. In a unanimous vote, the Fed hiked the federal-funds rate to 4 percent. Investors strongly expect at least one more hike later in the year. The Dow plunged 600+ points (hardly a sign of confidence) after Fed Chairman Kevin Warsh spoke.
