# September 16, 2026: Fed Decides to Hike, Trump: Interest Rates Too High, More

An episode of [Bloomberg News Now](https://invisiblenetwork.ai/podcast/1701403307), 17 Sep 2026, 5:38.

Audio: https://podtrac.com/pts/redirect.mp3/tracking.swap.fm/track/UVBrz8bN8aM2Xe47PEPu/traffic.omny.fm/d/clips/e73c998e-6e60-432f-8610-ae210140c5b1/d9566f78-0464-4367-9dcc-b05700aeec6f/3365a18e-98cd-45ab-b1a9-b4c800354d05/audio.mp3?utm_source=Podcast&in_playlist=7f880b3c-7f67-4b4b-b520-b05700af9172

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## Transcript

[0:01] Speaker 1: News when you want it. With Bloomberg News Now, I'm
[0:03] Speaker 1: Doug Krisner. Today, the Federal Reserve raised its key policy
[0:07] Speaker 1: rate by a quarter point. Now, that move was widely expected,
[0:10] Speaker 1: and today's decision was unanimous. Fed Chair Kevin Warsh framed
[0:14] Speaker 1: it as removing a dose of accommodation.
[0:18] Speaker 2: Last month in Wyoming, I expressed my commitment to a
[0:22] Speaker 2: monetary policy discipline, not to a decision. I defined the
[0:27] Speaker 2: standard for action. We must be confident that underlying inflation
[0:33] Speaker 2: is moving to our objective, clearly and at sufficient speed. Today,
[0:39] Speaker 2: the FOMC decided that this standard has not been satisfied.
[0:44] Speaker 1: And policymakers also penciled in an additional rate hike later
[0:48] Speaker 1: this year.
[0:48] Speaker 2: We aim to ensure that credit and financial conditions are
[0:52] Speaker 2: consistent over time with our mandate. that relative price changes
[0:57] Speaker 2: in some sectors of the economy do not broaden, that
[1:01] Speaker 2: inflation compensation in market prices stays low, and that inflation
[1:07] Speaker 2: expectations remain well anchored.
[1:09] Speaker 1: President Trump responded to the Fed's decision. In a post
[1:12] Speaker 1: on Truth Social, he said rates in the U.S. should
[1:15] Speaker 1: be 1% or less. Here is Trump.
[1:17] Speaker 3: Yeah, I do.
[1:18] Speaker 4: I mean, I'm relying on Kevin, but he's got, you know,
[1:21] Speaker 4: a very tough board. He's got a board that was
[1:23] Speaker 4: put there by a lot of other people. And the
[1:26] Speaker 4: interest rates are too high. They're not appropriate. And I
[1:30] Speaker 4: talked to Kevin and I said, you might as well
[1:33] Speaker 4: vote with the board because it's not.
[1:34] Speaker 5: Going to matter.
[1:35] Speaker 1: Trump went on to say the Fed should lower interest
[1:37] Speaker 1: rates fast. In the Treasury market, we had yields jumping
[1:40] Speaker 1: at the short end of the curve. On the bet
[1:42] Speaker 1: for additional rate hikes, the two-year was up seven basis points,
[1:46] Speaker 1: last quoted in New York at 4.73%. At the long end,
[1:50] Speaker 1: the 10-year rose two basis points to 5.02%. We got
[1:55] Speaker 1: reaction from Stephanie Roth, chief economist at Wolf Research.
[1:59] Speaker 5: The market is just expecting that he sounded a lot
[2:02] Speaker 5: more hawkish than they expected. Now it's a price in
[2:05] Speaker 5: a greater string of hikes. I don't think it's necessarily
[2:08] Speaker 5: a lack of credibility comment here. I think it's more
[2:12] Speaker 5: about they're going to do more than certainly many expected
[2:15] Speaker 5: before the meeting.
[2:16] Speaker 1: That is Stephanie Roth, chief economist at Wolf Research. The
[2:19] Speaker 1: equity market declined today with the Dow dropping 1.2%. We
[2:23] Speaker 1: had the S & P weaker by four-tenths of 1%.
[2:26] Speaker 1: The Nasdaq composite was essentially flat. Crude oil prices retreated
[2:30] Speaker 1: today on indications some of the recent supply outages in
[2:34] Speaker 1: the Middle East are beginning to resolve. Saudi Arabia is
[2:37] Speaker 1: seeking to return about half the capacity of its east-west
[2:41] Speaker 1: pipeline within days. Today, WTI was down more than 3%,
[2:44] Speaker 1: closing New York trading at $ 102. 43 the barrel. The House
[2:49] Speaker 1: has passed a broad package of sanctions targeting Russian officials
[2:53] Speaker 1: as well as key pillars of Russia's economy. Now, this
[2:56] Speaker 1: bill is named after the late Senator Lindsey Graham. It
[2:59] Speaker 1: sanctions Russian officials as well as banks and a shadow
[3:03] Speaker 1: fleet of crude oil tankers. It also allows President Trump
[3:07] Speaker 1: to impose tariffs on the top importers of Russian oil
[3:11] Speaker 1: or natural gas. Here is South Carolina Senator Darlene Graham.
[3:15] Speaker 3: My late brother, Lindsey, was committed to achieving a peaceful
[3:19] Speaker 3: resolution to.
[3:20] Speaker 6: The war in Ukraine.
[3:21] Speaker 3: Lindsey believed this bill, which he worked on for well
[3:25] Speaker 3: over a year, would help achieve that goal through squeezing
[3:28] Speaker 3: Putin economically and forcing his customers to reevaluate their relationship
[3:33] Speaker 3: with Russia. I am confident that the sanctions and other
[3:37] Speaker 3: measures contained in this bill will do that and further
[3:40] Speaker 3: increase the president's negotiating leverage to secure a lasting peace.
[3:46] Speaker 1: That was South Carolina Senator Darlene Graham. This measure, by
[3:49] Speaker 1: the way, now heads to the president's desk for his signature.
[3:53] Speaker 1: The House of Representatives has voted to hold billionaire Leon
[3:56] Speaker 1: Black in contempt of Congress for his refusal to cooperate
[4:00] Speaker 1: with an investigation into Jeffrey Epstein. More from Bloomberg's Amy
[4:04] Speaker 1: Morris in Washington.
[4:05] Speaker 6: The House Oversight Committee issued two subpoenas to Leon Black,
[4:09] Speaker 6: the co-founder of Apollo Global Management. He has not complied.
[4:13] Speaker 6: and he walked out early from voluntary testimony in June.
[4:16] Speaker 6: Black has acknowledged paying Epstein $ 158 million over the years,
[4:21] Speaker 6: which he says was for estate and tax planning advice.
[4:24] Speaker 6: The matter now goes to the Justice Department, which can
[4:27] Speaker 6: decide whether to pursue charges. Black's attorneys called the vote
[4:31] Speaker 6: an outrageous action, and they say they'll fight it. In Washington,
[4:34] Speaker 6: Amy Morris, Bloomberg Radio.
[4:36] Speaker 1: The Kennedy Center for the Performing Arts is now closed,
[4:39] Speaker 1: and today, fencing went up around the main building. On Tuesday,
[4:43] Speaker 1: the Kennedy Center's board voted to close the building indefinitely
[4:47] Speaker 1: due to weak financials and a dangerous state of disrepair.
[4:51] Speaker 1: And now, Ohio Democratic Congresswoman Joyce Beatty has asked for
[4:56] Speaker 1: an emergency court hearing into this closure. Beatty says the
[5:00] Speaker 1: decision to shutter the facility may be violating a clear
[5:03] Speaker 1: and unambiguous order from the court. President Trump's chief of staff,
[5:08] Speaker 1: Susie Wiles, announced today she is cancer-free. Back in March,
[5:12] Speaker 1: Wiles disclosed she had early-stage breast cancer, and at the time,
[5:16] Speaker 1: President Trump urged her to start immediate treatment and to
[5:20] Speaker 1: take as much time away from the White House as
[5:22] Speaker 1: she needed. Today, in a post on social media, Wiles
[5:25] Speaker 1: said her pathology test came back clear. And that is
[5:29] Speaker 1: news when you want it. With Bloomberg News Now, I'm
[5:31] Speaker 1: Doug Krisner, and this is Bloomberg.

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