Federal Reserve raises rates for first time in three years, with Trump accusing the board of political bias. Kevin Warsh defends decision as necessary to combat inflation.
Trump claims he advised Warsh to vote with the board, calling the decision 'political' and 'hostile.' Warsh denies confirming any interaction, emphasizing Fed independence.
Warsh's decision to raise rates reflects commitment to fighting inflation, with economists noting the move aligns with economic data and full employment.
Trump's criticism highlights tension between presidential pressure and Fed independence, as Warsh faces challenges in balancing political and economic considerations.