The Federal Reserve voted to raise interest rates by a quarter-point, marking its first rate hike since 2023. The increase was approved unanimously by the Fed board Wednesday, with an indication that another is coming as part of an effort to combat inflation, largely driven by high oil prices brought on by the war with Iran. President Donald Trump lashed out at the Fed over the decision. Morning Joe economic analyst Steve Rattner joins the panel to explain why he says President Trump is actually responsible for the Fed’s rate increase.
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