Trump Backs Fed's Warsh, Reiterates Call for Lower Interest Rates

U.S. President Donald Trump expressed his respect for Federal Reserve Chairman Kevin Warsh, saying he will do what is necessary regarding interest rates. The statement was made in the Oval Office on Monday.

The Fed's preferred Personal Consumption Expenditures Price Index remained at 3.7% as of July, with inflation still a concern ahead of November's midterm elections. Central bankers are set to meet next month to consider potential rate changes.

Trump has repeatedly called for lower interest rates, stating that the U.S. should have the lowest rates in the world. He emphasized this point on Monday, saying 'we should pay, in my opinion, the lowest interest rates anywhere in the world by far.'