Trump Presses Fed to Cut Rates, Says US Interest Rates Are 'Too High'
US President Donald Trump has expressed his concerns about high interest rates in the US economy. When asked at the White House, he emphasized that 'our interest rates are too high' and that they should be lower than other countries.
In a response to Federal Reserve Chair Kevin Warsh's suggestion of potential rate hikes, Trump stated that he respects Warsh but implied that he will take action to cut interest rates. Trump also mentioned that inflation is not caused by success and growth, contradicting the conventional economic view.
Warsh had hinted at rate hikes if inflation does not slow down, which could put him in a difficult position given his relationship with President Trump. The Federal Reserve's next meeting is scheduled for September 15-16.