Trump Demands Lowest Rates in World Ahead of Fed Decision
US President Donald Trump is pushing for low interest rates ahead of the Federal Reserve's (Fed) rate decision. Speaking at his golf course in Ireland, Trump said that despite expectations of a September rate hike, he believes the US economy is strong enough to warrant the lowest interest rates in the world.
'The U.S. economy is so strong that regardless of their formula, we should have the lowest interest rates in the world,' Trump stated. He also emphasized America's creditworthiness, claiming 'we are making other countries rich' and could end it in two minutes if necessary.
The Fed's decision on interest rates will likely be closely watched, especially given Trump's previous warnings to the central bank. In a CNN interview, White House National Economic Council Director Kevin Hassett downplayed any concerns about Trump accepting a rate increase, stating 'President Trump respects the independence of Fed Chair [Kevin Warsh] 100%.' However, Hassett also reiterated Trump's desire for lower interest rates, saying he thinks 'the president has very strong views that rates need to come down much more.'