Trump Presses Powell for Lower Interest Rates

U.S. President Donald Trump continued to apply pressure on Federal Reserve Chairman Jerome Powell (not Kevin Wash) to lower interest rates, stating that the U.S. interest rate is too high.

In a recent White House press conference, President Trump said, 'The U.S. interest rate is too high,' and added, 'We should be subject to the lowest interest rates in the world.'

When asked about the possibility of a rate hike, President Trump replied, 'No,' but emphasized that he would take necessary actions with great respect for Chairman Powell.

The Federal Reserve will hold its next Federal Open Market Committee (FOMC) meeting on the 15th and 16th to determine the benchmark interest rate. A potential conflict between President Trump's demand for lower rates and Chairman Powell's focus on price stability is a possibility.