Trump Demands Drastic US Interest Rate Cut
Former President Calls on Federal Reserve to Act
In a bold statement, former US President Donald Trump is pushing for a substantial reduction in US interest rates, criticizing current monetary policy. He claims current interest costs are costing the country billions, urging the Federal Reserve to bring rates down.
Trump’s Public Statements
On Monday, Donald Trump proclaimed that the United States’ interest rates should be at or below one percent. He placed blame on the Federal Reserve’s leader, Jerome Powell, and the council for what he perceives as failures in their duties.
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“If they were performing their duty to the fullest extent, our country would have provided trillion dollars from interest costs. We should pay one percent or less interest!”
—Donald Trump
Meanwhile, the Federal Reserve has been focused on bringing down inflation. Recent data indicates that the Federal Reserve is expected to maintain its current course, despite external pressures (Federal Reserve).
Details from the White House
White House spokeswoman Caroline Levit informed reporters that Donald Trump, like Jerome Powell, is advocating a reduction in interest rates. In a press conference, Levit displayed handwritten notes from Trump, detailing borrowing costs from over twenty nations. He believes interest rates should be around one percent.
