For the first time since 2023, the Federal Reserve has raised interest rates in an attempt to combat inflation. The central bank raised its benchmark interest rate by a quarter percentage point to a range between 3.75% and 4%.
President Donald Trump does not support the decision and believes the Federal Reserve should be lowering the interest rate. Due to the war in Iran, inflation has driven oil, gasoline and diesel prices to record highs. Trump said he believes these numbers will go back down once the war is over.
Dale Rogers, a professor at ASU’s W. P. Carey School of Business, joined “Arizona Horizon” to talk about the raise in interest rates and its effects.
