Trump Demands Lowest Interest Rates as Fed Weighs Rate Hike
US President Donald Trump has reiterated his call for the country to have the lowest interest rates in the world, ahead of the Federal Reserve's policy meeting on Wednesday. Speaking at the Irish Open golf tournament, Trump said that no country should have lower interest rates than the US, and expressed his disapproval of the current rate levels.
The Fed is expected to raise its target range for the federal funds rate from 3.5% to 3.75%, amid persistent inflation and economic pressures. The Labor Department's Consumer Price Index posted its largest increase in four months last Friday, reinforcing expectations of a rate hike.
Trump has been critical of the Fed's interest rate levels, arguing that they have helped other countries at the expense of the US. He has also threatened to stop trading with countries that have a deficit with the US if the Fed does not lower its rates.