Trump Calls for Lower Interest Rates Following Fed Rate Hike

<p>President Donald Trump responded to the Federal Reserve's decision to raise interest rates for the first time in three years by advocating for a reduction in rates, stating they should be lowered "AND FAST!"</p><p><strong>Why it matters: </strong>The rate hike positions Trump in opposition to the central bank under new Fed chair Kevin Warsh, whom he appointed.</p><hr /><p><strong>By the numbers:</strong> The Fed raised its target interest rate by a quarter percentage point, setting it in the range of 3.75%–4%.</p><ul><li>Fed projections indicate that 12 of 18 officials anticipate one more rate hike this year, while four expect two additional hikes.</li></ul><p><strong>What he's saying: "</strong>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.</p><ul><li>He added, "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."</li><li>Trump also stated, "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. LOWER THE INTEREST RATES FOR THE UNITED STATES OF AMERICA, AND FAST!"</li></ul><p><strong>The intrigue: </strong>Trump refrained from criticizing Warsh, in contrast to his previous remarks about former Fed chair Jerome Powell.</p><p><em>Editor's note: This is a breaking news story. Please check back for updates.</em></p>