Trump Tells Fed to Cut Interest Rates Amid Inflation Fears

US President Donald Trump has urged the Federal Reserve to lower interest rates, claiming that the central bank is 'afraid of inflation'. In a statement on Thursday, Trump said that when good economic numbers are announced, interest rates should come down, not go up. He argued that success in growth does not cause inflation and accused Fed officials of having political motives behind their decisions.

The Federal Reserve's July meeting minutes showed that 'many' policymakers expected higher rates to be necessary unless inflation shows more progress. Since then, US inflation data has been generally positive, but the annual rate remains well above the 2% target.

Trump also criticized the Fed for not allowing interest rates to fall with the success of the country's economy, saying 'they keep driving the interest rates up because they're so afraid of inflation'. He accused some Fed officials of having a 'political board' and implied that their decisions are influenced by politics rather than economics.