White House calls Fed rate hike 'regrettable', says move won't affect oil prices

The White House has described the Federal Reserve's decision to raise interest rates as 'somewhat regrettable'.

The White House stated that increasing interest rates does not lead to changes in oil prices, while also noting that President Donald Trump continues to support the independence of the Federal Reserve.

The White House's remarks come as the Federal Reserve faces mounting political pressure over its interest rate policy, amid ongoing concerns about inflation and energy prices.

The US Federal Reserve recently raised its benchmark interest rate by 25 basis points, marking the first rate increase since 2023, in a move aimed at addressing persistent inflationary pressures and rising energy costs.