Trump Calls for Lowest Interest Rate Globally Ahead of Fed Meeting

US President Donald Trump has stated that no country should have lower interest rates than the US ahead of the Federal Reserve's (Fed) next policy meeting. Speaking at the Irish Open golf tournament, Trump said the US 'should be paying the lowest interest rate in the world' despite concerns about inflation and the economy.

The Labor Department's consumer price index showed a significant increase last Friday, reinforcing expectations that the Fed will raise its target range for federal funds rates this week. The current rate is between 3.5% to 3.75%, and many at the Fed worry that prolonged high inflation will be costly to bring back under control.

Trump has been critical of the Fed's interest rate levels, claiming they have helped other countries at the expense of the US. He recently threatened to stop trading with countries that have a deficit with the US if the Fed does not lower its rates.