Trump calls for interest rates of 1% after Fed’s first hike since July 2023
President Donald Trump called for U.S. interest rates to be lowered to 1% or less, hours after the Federal Reserve increased the federal funds rate to 3.75%-4.00% for the first time since July 2023. The Fed's update showed at least 12 members expecting another rate hike this year, with four anticipating two more. Trump argued that the U.S. has the best credit in the world and that lowering interest rates would benefit the country.
He claimed that ending trade deficits with most countries could generate at least 1.5 trillion dollars annually. Trump emphasized the need to lower interest rates for the United States, stating that the deficit is a loss and that the nation has been carrying almost every country in the world for too long.
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