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Ahead of Fed meeting, Trump says US should have world's lowest interest rate
Trump said higher U.S. borrowing costs would hurt affordability as markets expect the Federal Reserve to raise rates this week.
- On Sunday in Doonbeg, Ireland, President Donald Trump argued the U.S. "should be paying the lowest interest rate in the world," speaking ahead of the Federal Reserve's policy meeting this week.
- Following Friday's Consumer Price Index report showing the largest inflation increase in four months, the Federal Reserve faces mounting pressure; Trump posted two weeks ago, "LOWER THE RATE OR I'LL STOP TRADING WITH COUNTRIES WITH WHICH WE HAVE A DEFICIT."
- National Economic Council Director Kevin Hassett told "Fox News Sunday" that Trump "will defend the independence of Kevin Warsh above all," though he noted Trump "is not going to be super happy about it" if the Fed raises rates.
- The Fed meets just weeks before midterm elections that determine whether Republicans maintain slim majorities in Congress; recent polling suggests a rate hike could worsen voter affordability concerns as Trump's approval ratings have fallen.
- Trump has been more supportive of Federal Reserve leadership since his own pick, Kevin Warsh, took charge earlier this year, marking a shift from his past criticism of former Fed chair Jay Powell.
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The US President is once again putting pressure on the US Federal Reserve.
·Vienna, Austria
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US Federal Reserve Shortly before a possible interest rate hike by US Federal Reserve, US President Donald Trump once again exerted pressure. He reaffirmed his threat of a trade freeze with certain countries should the Central Bank Council not loosen US monetary policy.
·Bern, Switzerland
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Trump confirmed that the United States will stop trading with a number of countries if the Fed does not lower its benchmark interest rate
Trump confirmed that the United States will stop trading with a number of countries if the Fed does not lower its benchmark interest rate. "I have no choice. We cannot allow a deficit [in trade] with other states.
Coverage Details
Total News Sources54
Leaning Left4Leaning Right16Center11Last UpdatedBias Distribution52% Right
Bias Distribution
- 52% of the sources lean Right
52% Right
13%
C 35%
R 52%
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