White House spokesman Kush Desai called the Fed's rate increase "regrettable,"
saying the president has been clear on his preferred rate path and that, from
the government's perspective, the decision lacks particularly persuasive
economic justification. Desai added "this is not the Biden era," arguing the
president and Republicans did not deploy the trillions in COVID-era stimulus
that Democrats and Joe Biden did and therefore there is no runaway aggregate
demand that would need to be reined in by higher rates.
