(Bloomberg) -- US President Donald Trump said the Federal Reserve was right to pause its rate-cutting path in its decision last week, a break from his penchant for calling for lower rates.
“I'm not surprised,” Trump told reporters upon arriving in Washington on Sunday evening. “Holding the rates at this point was the right thing to do.”
In a decision announced last week, the Federal Open Market Committee unanimously held the federal funds rate in a range of 4.25%-4.5%, pausing its rate cut path as inflation fears simmer and Trump measures — including his barrage of new tariffs and deportation sweeps — threatened to reignite price growth.
Trump has regularly called on the central bank to cut rates, including in a speech to the World Economic Forum in Davos a week before the decision. He has mused previously about changes to the Fed, including whether the US president should have a say in rate decisions.
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