Trump Pressures Fed for Interest Rate Cut Amid US Economic Growth
US President Donald Trump has renewed his call for the Federal Reserve to cut interest rates to 1% or lower, citing the strength of US credit. In a post on Truth Social, Trump argued that the country's low borrowing costs are justified by its strong economic performance.
'Interest Rates in the United States should be 1%, or less, because we are the Best Credit in the World, BY FAR,' Trump wrote. He also claimed that cutting trade ties with countries that run surpluses against the US would generate significant revenue for the country.
Trump's comments come after the Federal Reserve raised interest rates by 25 basis points on Wednesday, marking the first increase in over three years. The move lifted the federal funds target range to 3.75%-4.00%.