Trump Again Seeks Rate Cut from Fed Amid Market Expectations

U.S. President Donald Trump is again calling on the Federal Reserve to cut interest rates, despite market expectations for a rate hike.

In remarks made in Ireland over the weekend, where he was attending the Irish Open, Trump emphasized that the United States should have the lowest interest rate globally.

'We should be paying - the United States is so strong - we should be paying the lowest interest rate in the world, regardless of their formulas,' Trump said.

This comes after government data showed consumer prices rose more than expected last month, which could push the Fed to raise the fed funds lending rate for the first time in three years.

According to CME Group's Fed Watch tool, over 86% of market participants expect a 25 basis point increase in the benchmark lending rate to between 3.75% and 4%.