White House Expresses Regret Over Fed Rate Hike

The White House has expressed regret over the Federal Reserve's decision to increase interest rates. According to Walter Bloomberg on Thursday (local time), the White House stated that the Fed's rate hike was 'regrettable.' However, the statement did not provide specific reasons for opposing the decision or outline future monetary policy positions. The Fed announced a 25 basis point increase in its benchmark rate today, stating that tightening is necessary to bring inflation back down to its 2% target.