Trump Again Pushes for Low Interest Rates Despite Growing Pressure

President Donald Trump has reiterated his call for lower interest rates in the US, despite growing pressure on the Federal Reserve to raise borrowing costs. Speaking from Ireland, where he is attending the Irish Open, Trump said that 'we should be paying the lowest interest rate in the world,' regardless of economic formulas.

The comments come as the Fed faces renewed pressure to raise interest rates following data released on Friday showing US consumer prices rose more than expected in August. The inflation data has led traders to boost expectations for a Fed hike, with an 86% chance of a move in September and two increases priced in by the end of the year.

Trump's remarks also follow his criticism of former Fed chief Jerome Powell for his unwillingness to lower borrowing costs more aggressively. Trump suggested that the current Fed chair, Kevin Warsh, may be constrained by what he called a 'very political' board of governors.