Topline
Vice President JD Vance went after the Federal Reserve for declining to lower interest rates, as President Donald Trump has continuously demanded, in the latest White House criticism of the historically operationally independent central bank.
Vance's criticism followed the May consumer price index release which revealed less inflation than ... More
“The president has been saying this for a while, but it's even more clear: the refusal by the Fed to cut rates is monetary malpractice,” Vance posted to the X social media platform Wednesday morning.
Vance’s critique came immediately after the Bureau of Labor Statistics released May’s consumer price index inflation report, which revealed less price increases than economists anticipated.
Trump has loudly called for the Fed to lower rates since taking office in January, even teasing the firing of Fed Chairman Jerome Powell.
This is a breaking news story and will be updated.