President Trump on Wednesday called on the Federal Reserve to lower interest rates just hours after his hand-picked head of the central bank raised them for the first time in years.
“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!”
“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,” the president continued. “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.”
Trump stopped short of specifically calling out Fed Chairman Kevin Warsh, whom the president tapped in January to succeed Jerome Powell.
In a unanimous vote, the Fed raised rates by a quarter point to the 3.75% to 4% range, marking the first central bank rate hike in three years.
Warsh argued that “inflation is too high and has been for too long,” in justifying the rate increase.
“LOWER THE INTEREST RATES FOR THE UNITED STATES OF AMERICA, AND FAST!” Trump demanded.