Trump Demands Lowest Interest Rate in World Ahead of Fed Meeting

President Donald Trump has made it clear that he wants the US to have the world's lowest interest rate. Speaking at the Irish Open golf tournament, he said no country should have lower rates than the US, ahead of the Federal Reserve's next policy meeting.

The Labor Department's Consumer Price Index, a key measure of inflation, posted its largest increase in four months on Friday. This has reinforced expectations that the Fed will raise interest rates at their meeting this week, with some expecting a 0.25% hike to take the target range from 3.5-3.75%.

However, Trump said the US should be paying the lowest interest rate in the world, regardless of inflation and economic data. He argued that other countries have benefited at the expense of the US due to high interest rates set by the Fed.

In recent weeks, Trump has been more vocal about his demands for lower interest rates, even threatening to stop trading with countries that run a deficit against the US if they don't comply. His approval ratings have fallen as inflation persists, and a rate hike could add to voter concerns about affordability ahead of midterm elections.