Trump Demands US Interest Rates Go Global
US President Donald Trump has again called on the Federal Reserve to cut interest rates, despite market expectations of a rate increase due to rising oil prices and Treasury yields.
In remarks made during his visit to the Irish Open in Ireland, Trump stated that the US should have 'the lowest interest rate in the world', regardless of economic formulas.
His comments come after government data released on Friday showed that consumer prices rose more than expected last month, likely pushing the Fed to raise its benchmark lending rate for the first time in three years.
According to CME Group's Fed Watch tool, over 86% of market participants expect the rate-setting Federal Open Market Committee to increase the rate by 25 basis points to between 3.75% and 4%.