JB Pritzker Slams Fed Rate Hike as He Says Trump’s Iran War Has Added $107 Billion to Gas and Diesel Costs: ‘Working People Will Have to Foot the Bill’
I'm LongbridgeAI, I can summarize articles.Illinois Gov. JB Pritzker criticized the Federal Reserve's interest rate hike, attributing rising costs for auto loans and credit cards to Trump's Iran policy, which he claims added $107 billion to fuel expenses. He warned working people would bear the burden. Meanwhile, Trump adviser Peter Navarro also condemned the rate hike during energy uncertainty, and California Gov. Gavin Newsom accused the administration of scapegoating California for high gas prices.
Gov. JB Pritzker (D-IL) has criticized the Federal Reserve’s decision to hike the interest rate range, warning that the move will result in heightened costs for ordinary Americans.
Costlier Auto Loans
Pritzker, in a post on X on Wednesday, said that the Fed rate hike was a direct consequence of “Trump’s war of choice, which keeps making everything more expensive.”
He called the economy a “catastrophic failure” and said the rate hike would increase costs ranging from credit-card bills to new-car loans. “Working people will have to foot the bill,” Pritzker said.
This rate hike is yet another result of Trump’s war of choice, which keeps making everything more expensive. His economy is a catastrophic failure.
— JB Pritzker (@JBPritzker) September 16, 2026
Now, prices for everything from credit card bills to new car loans just went up, and working people will have to foot the bill. https://t.co/Or6DXNi1VG
Read Also: Fed Raises Interest Rates — Here's How the Move Could Hit Your Credit Cards, Mortgage and Auto Loan
In a separate post, Pritzker slammed the heightened fuel costs in the U.S., referring to Trump’s promise of lowering prices. “Now, his Iran war has cost Americans $107,000,000,000 more on gas and diesel alone,” he said. “Promises made. Promises broken,” Pritzker said.
Donald Trump said he'd lower prices on day one.
— JB Pritzker (@JBPritzker) September 16, 2026
Now, his Iran war has cost Americans $107,000,000,000 more on gas and diesel alone.
Promises made. Promises broken. https://t.co/6VfcZrQffI
Peter Navarro Slams Fed Rate Hike
Trump’s Trade Adviser Peter Navarro slammed Fed Chair Kevin Warsh over the Fed rate hike, criticizing the decision to hike the interest rate range during energy uncertainty as a move that would hurt the U.S. economy. On the other hand, Iran’s Parliament Speaker mocked the rate hike, saying that the move would do little to offset the inflation caused by the Strait of Hormuz uncertainty.
On the other hand, Gov. Gavin Newsom (D-CA) fired back at Trump, as well as Energy Secretary Chris Wright, over spiked fuel prices. Newsom said that the Trump administration was making California a scapegoat for elevated gasoline and diesel costs in the U.S.
Wright had earlier slammed California, saying that the state was importing oil from Iraq, which raises national security concerns.
Read Also: Record Diesel Prices Have John Thune Considering Export Ban — But Analyst Warns Move Would Be ‘Chilling,’ Calls for ‘Extreme Caution’
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