Trump Demands 1% Interest Rate as Fed Hikes Rates for First Time Since 2023

U.S. President Donald Trump has demanded that the Federal Reserve reduce interest rates to 1% or lower, just hours after the central bank announced its first rate hike since 2023.

The Fed had raised benchmark interest rates a quarter percentage point, to a target range of 3.75%-4%, in a unanimous decision by the 12-member Federal Open Market Committee.

In a post on his Truth Social platform, Trump wrote that the U.S. is 'carrying' almost every country in the world and cannot sustain this anymore.

He called for immediate action from the Fed, stating 'LOWER THE INTEREST RATES FOR THE UNITED STATES OF AMERICA, AND FAST!'