Trump Demands Lowest Interest Rates Globally for US Economy

US President Donald Trump has once again called on the Federal Reserve to lower interest rates, arguing that the country should have the lowest borrowing costs in the world. He claimed that the US economy could grow at rates of 8%, 9%, 10% or even 12%. The Fed's benchmark interest rate is currently within a target range of 3.5%-3.75%.

In a recent statement, Trump expressed his views on the current state of the economy and the role of the Federal Reserve. He pointed to the latest inflation data as evidence that price pressures were easing, describing it as 'very good' and stating that costs are 'going down rapidly'. The US consumer prices fell 0.4% month-on-month in June, while annual inflation slowed to 3.5% from 4.2% in May.

Trump also suggested that some members of the Federal Reserve Board were 'very political', adding that Fed Chair Kevin Warsh wanted to 'do the right thing' but needed the consent of other policymakers. He repeatedly criticized former Fed Chairman Jerome Powell during his tenure for moving too slowly to reduce borrowing costs, accusing him of making politically motivated interest-rate decisions.