Trump Demands Lowest Global Interest Rate Ahead of Fed Meeting
US President Donald Trump has expressed his desire for the US to have the world's lowest interest rate. In an interview, he stated that no country should have lower interest rates than the US, despite rising inflation. The Federal Reserve is set to meet this week and may raise interest rates in response to high inflation.
The Labour Department's Consumer Price Index posted its largest increase in four months, reinforcing expectations of a rate hike. Many Fed officials worry that prolonged high inflation will lead to increased costs when trying to bring it back under control.
Trump has been critical of the Fed's interest rates, claiming they help other countries at the expense of the US. He even threatened to stop trading with countries that have a deficit if the Fed doesn't lower the rate.