Topline
President Donald Trump called for interest rates of 1%, or less, Wednesday, ranting on Truth Social hours after the Federal Reserve raised rates for the first time in three years amid heightened inflation and energy prices.
Trump urged lower rates in a Truth Social post Wednesday.
Photo by Brendan Smialowski / AFP via Getty Images
Key Facts
Trump said in a Truth Social post, “Interest Rates in the United States should be 1%, or less, because we are the Best Credit in the World — BY FAR,” adding the U.S. is “BOOMING with new investment.”
The president, who has engaged in an escalating trade war with Canada resulting in tit-for-tat tariffs, said the U.S. is “‘carrying’ almost every country in the World, and that cannot go on any longer.”
The Fed likely raised rates to combat persistent and heightened inflation that has remained above its 2% target for years, with the annual inflation rate reaching 3.4% last month.
Federal Reserve Chair Kevin Warsh, who Trump nominated this year in hopes of adopting a dovish approach, voted alongside all members of the Federal Open Market Committee on Wednesday to raise rates.
CRUCIAL QUOTE
“LOWER THE INTEREST RATES FOR THE UNITED STATES OF AMERICA, AND FAST!” Trump posted.
This is a developing story. Check back for updates.
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