Trump Presses Fed for Interest Rate Cut Ahead of Key Meeting

U.S. President Donald Trump has urged the Federal Reserve System (Fed) to cut its benchmark interest rate, just a day before the Federal Open Market Committee's regular meeting.

In an appearance on Air Force One, Trump stated that the U.S. GDP growth rate is between 8% and 12%, which he believes is 'the right level.'

He also claimed that other countries are maintaining lower interest rates due to funding from the United States, saying, 'They are taking funds from the United States and maintaining lower interest rates than us, and that should not be the case.'

The current U.S. benchmark interest rate is between 3.50 and 3.75% per year.

Trump also commented on Fed Chairman Kevin Wash, calling him 'fantastic' but suggesting that he may face opposition from other directors due to their 'political' views.