Trump Urges Fed to Lower Interest Rates Hours After Hike

President Donald Trump on Wednesday called on the Federal Reserve to lower interest rates, just hours after his appointed chairman, Kevin Warsh, led the central bank in its first rate increase in three years.

Trump expressed his view on social media, stating that U.S. interest rates should be "1%, or less" because the country possesses the "Best Credit in the World." He asserted that the nation's economy is experiencing robust growth with "new Investment."

"Interest Rates in the United States should be 1%, or less, because we are the Best Credit in the World — BY FAR," Trump wrote on Truth Social. "Our Country is BOOMING with new Investment!"

He also commented on international trade, suggesting that eliminating deficits with other countries could yield significant financial gains. "If we stopped Trading with every country that we have a Deficit with, which is most of them, we would make, at least, 1.5 Trillion Dollars a year," Trump posted. "The word ‘Deficit’ is nothing more than a fancy word for LOSS. We are ‘carrying’ almost every country in the World, and that cannot go on any longer."

The Federal Reserve, in a unanimous decision, raised its benchmark interest rate by a quarter percentage point, bringing the target range to 3.75% to 4%. Warsh, whom Trump appointed in January to succeed Jerome Powell, cited inflation as the reason for the hike, stating that "inflation is too high and has been for too long."

Despite the Fed's action and Warsh's justification, Trump reiterated his demand: "LOWER THE INTEREST RATES FOR THE UNITED STATES OF AMERICA, AND FAST!"