Trump Demands Lowest Interest Rate Globally Ahead of Fed Meeting
US President Donald Trump has reiterated his demand that interest rates in the country be the lowest globally, ahead of this week's Federal Reserve meeting. Speaking at the Irish Open golf tournament on Sunday, Trump said he didn't know if Fed policymakers will raise interest rates but emphasized that the US should have the world's lowest rate regardless.
The Labor Department's Consumer Price Index posted its largest increase in four months last Friday, reinforcing expectations of a Fed rate hike. However, many at the Fed worry that prolonged high inflation could lead to higher costs for the economy to get back on track.
Trump has been critical of the Fed's interest rate levels, arguing they have helped other countries at the expense of the US. He recently tweeted, 'LOWER THE RATE OR I'LL STOP TRADING WITH COUNTRIES WITH WHICH WE HAVE A DEFICIT.'