Trump and Albanese Blame Central Banks for Economic Woes

US President Donald Trump has lashed out at the Federal Reserve's decision to raise interest rates, claiming it should be at or below 1% due to the US being 'the Best Credit in the World, BY FAR'. He threatened to stop trading with countries that have a trade deficit with the US.

Australia also faces similar inflation challenges and its government has been criticized for shifting blame for economic pain to the Reserve Bank of Australia. Prime Minister Anthony Albanese implied the RBA is contributing to higher prices by making loans more expensive.

However, experts argue that the RBA's rate hikes are necessary to control inflation, which hit 3.5% in July. The Albanese government has been accused of exacerbating the problem with its large budget deficit and increased spending.