Trump says he still has confidence in Fed Chair Warsh, demands 1% or lower interest rates
President Donald Trump previously threatened to cut off trade with countries that have trade surpluses with the U.S. if the Fed doesn't cut interest rates.
TL;DR
- President Trump expressed continued confidence in Federal Reserve Chair Kevin Warsh.
- Trump publicly urged the Federal Reserve to lower interest rates to 1% or less.
- The Federal Reserve announced a 25 basis point rate hike, bringing benchmark rates to a target range of 3.75% to 4%.
- Trump believes the rate hike was politically motivated and intended to harm his administration.
- He cited that the U.S. is "carrying" almost every country in the world as a reason for lower rates.