Trump Urges Fed to Lower Interest Rates Amid Economic Growth

US President Donald Trump has urged the Federal Reserve to lower interest rates, saying that as the country's economy grows, borrowing costs should be minimized. The Federal Open Market Committee is set to meet this week, and Trump believes that lowering rates would stimulate investment and strengthen economic growth.

In a statement aboard Air Force One while traveling to Michigan on Monday, Trump said: 'Rates should be lowered. This country could be at eight percent, nine percent, 10 percent, 12 percent GDP. That's what it should be.'

He cited Switzerland as an example of a country benefiting from low borrowing costs despite a large trade imbalance with the US, saying that he could 'wipe out' a $30 billion deficit in the country overnight.

Trump also linked inflation to the ongoing war involving Iran, suggesting that prices would decline further when the conflict ends. He pointed to recent inflation data and blamed former President Joe Biden for the rise in costs that preceded his return to the White House.