Trump demands lower interest rates after Fed decision

President Trump responded to the Federal Reserve raising interest rates for the first time in three years by saying they should be lowered — "AND FAST!" Why it matters: The rate hike immediately puts Trump at odds with the central bank under new Fed chair Kevin Warsh, whom he picked to lead it. By the numbers: The Fed raised its target interest rate by a quarter percentage point, to a range of 3.75%–4%. Fed projections show 12 of 18 officials expect one more rate hike this year, while four expect two more. What he's saying: "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," he added." "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!" The intrigue: Trump didn't insult Warsh, though he often insulted his predecessor, Jerome Powell. Editor's note: This is a breaking news story. Please check back for updates.

Read it at Axios ↗

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