Barack Obama: “I recognize the need for today's action by the Federal Reserve.”

It is a basic principle of American democracy that the government can’t selectively target individuals simply because of their political beliefs or what they say.

Because if this becomes the new normal, there’s no reason to believe it will stop with her — or that future presidents, in either party, won’t do the same.

I think when we act on that basis, it doesn't always work out, but over time things do get better.

When we choose, when we make that decision, I do believe – and there is evidence for this – that the world gets incrementally better, and that is a worthy goal and it’s worth fighting for.