Peter Navarro says Fed's rate raise is 'a bad decision'

A top White House economic adviser has sharply criticized the Federal Reserve’s recent decision to raise interest rates, labeling it a misstep that could have broader economic consequences. The central bank’s policymaking committee, acting unanimously, approved a significant hike to its benchmark rate, pushing it to its highest level in years. The move, led by the Fed’s chair, signals a shift in monetary policy aimed at curbing inflation but has drawn immediate pushback from key administration officials. Critics argue the timing and scale of the increase could undermine economic growth and recovery efforts.

White House adviser Peter Navarro on Wednesday blasted the Federal Reserve's move to raise interest rates in several years, calling it "a bad decision." The central bank’s Federal Open Market Committee (FOMC), led by Fed Chair Kevin Warsh, voted unanimously to increase the central bank’s benchmark interest rate to a range of 3.75 percent to 4 percent. Warsh...