Trump Demands Lowest US Interest Rates Amid Inflation Worries
US President Donald Trump has once again expressed his desire for the Federal Reserve to lower interest rates, despite recent data suggesting the Fed may raise borrowing costs. Speaking in Ireland over the weekend, Trump stated that the US should have the lowest interest rate in the world, citing its strong economy.
In August, consumer prices rose more than expected, leading traders to boost expectations for a Fed hike. The inflation data showed an 86% chance of a move in September and two increases priced in by the end of the year.
Trump has repeatedly criticized former Fed chief Jerome Powell for his unwillingness to lower borrowing costs more aggressively. While Trump's handpicked chair, Kevin Warsh, hasn't faced the same pressure, Trump has signaled frustration with the Fed's policy stance.