Trump Reiterates Call for Fed Rate Cut, Says US Should Have World's Lowest Rates

U.S. President Donald Trump has once again urged the Federal Reserve (Fed) to cut interest rates, stating that the U.S. economy is strong enough to warrant the lowest rates in the world.

In a press conference at Doonbeg Golf Club in Ireland on May 13th, Trump expressed his expectation that the upcoming FOMC meeting would not raise the benchmark rate, saying 'I don't know' when asked about it.

However, he reaffirmed his long-held view that a rate cut is necessary, citing the U.S. economy's strength as justification for lower rates.

This is not the first time Trump has called on the Fed to cut rates; in fact, he even raised the possibility of halting trade with countries running trade deficits if the Fed does not lower rates earlier this month.

The White House has maintained that it respects the Fed's authority over monetary policy decisions, with Kevin Hassett, chairperson of the National Economic Council, stating on CNN that President Trump '100% respects' Fed Chair Kevin Warsh's independence and would support whatever decision the Fed makes.