Trump Blasts Fed Board Over Interest Rate Hike to 3.75-4%
US President Donald Trump has expressed his dissatisfaction with the recent interest rate hike by the Federal Reserve. He stated that he is relying on Fed Chair Kevin Warsh but faces a 'tough board' that was appointed by previous administrations.
'He's got a very tough board,' Trump said, adding that the board 'is very hostile, they're very political.' The president also criticized the decision to raise interest rates to 3.75-4% for the first time in three years.
Trump has long been critical of high interest rates, which he believes hinder economic growth. In a recent post on Truth Social, he argued that the US should lower its interest rates to around 1%, citing the country's strong credit rating and potential trade benefits.
The president emphasized that the current rate is 'too high' for the US, as it would make it more expensive for the country to borrow money. He suggested that lowering interest rates could help alleviate the national debt burden on other countries.