US President Donald Trump demanded Thursday that the Federal Reserve sharply cut interest rates to one percent or lower, arguing that high borrowing costs undermine American economic competitiveness.
In a social media statement, Trump asserted that the United States represents the strongest credit profile globally and should benefit from significantly lower benchmark interest rates to sustain current domestic investment momentum.
Trump also criticized US trade policy and existing trade deficits, characterizing international commercial deficits as direct economic losses for the country.
He advocated for a fundamental shift in foreign trade relations, claiming that ending trade with deficit partner nations would save the US economy “at least 1.5 US trillion dollars a year”, while reiterating his call for immediate monetary easing by central bank authorities.
— KUNA
