Trump Demands Interest Rate Cut Amid Strong US Credit
US President Donald Trump has called for lower interest rates following the Federal Reserve's decision to raise its benchmark rate by 25 basis points to a 3.75% - 4% target range, marking the first increase since 2023.
In a post on Truth Social, Trump argued that US interest rates 'should be 1%, or less' due to the country's strong credit standing and booming investment.
He cited the US as 'the Best Credit in the World, By far,' with the country 'booming with new investment!'
The Fed's rate hike was seen as a response to elevated inflation, which has remained high for too long according to Chair Kevin Warsh. The White House had earlier criticized the decision, stating that higher rates would 'stymie the economic progress' made under Trump's administration.