Trump Urges Fed to Cut Rates Amid Easing Inflation

US President Donald Trump has once again urged the Federal Reserve to cut interest rates, claiming that the US economy could grow at high rates if borrowing costs were lowered. Trump stated, 'Rates should be lower,' and argued that the country should have the lowest interest rate in the world, like it did 30 years ago.

The President pointed to the latest inflation data as evidence that price pressures are easing, describing it as 'very good' and stating that costs are 'going down rapidly.' Consumer prices fell 0.4% month-on-month in June, while annual inflation slowed to 3.5% from 4.2% in May.

Trump also criticized the Federal Reserve Board, suggesting that some members were 'very political' and claiming that Fed Chair Kevin Warsh wanted to 'do the right thing' but needed the consent of other policymakers. Warsh's term as chair runs through May 21, 2030, while his term as a member of the Fed board expires on January 31, 2040.