President Donald Trump reiterated his call for interest rate cuts just one day before the Federal Reserve's monetary policy meeting.
On July 27, during a flight to Michigan aboard Air Force One, Trump told reporters, "Interest rates need to go down," adding that "the U.S. should have the lowest interest rates in the world."
He argued that the current interest rate level in the U.S. is excessively high, citing countries with lower rates. Trump also claimed that lowering rates could boost the U.S. GDP growth rate to between 8% and 12%.
Regarding Federal Reserve Chair Kevin Powell, Trump described him as "excellent." However, he criticized some individuals within the Fed as "very political," suggesting they are obstructing rate cuts.
The Federal Reserve will hold a two-day meeting of the Federal Open Market Committee (FOMC) starting July 28, with a decision on interest rates expected on July 29. Currently, the U.S. interest rate stands at 3.50% to 3.75%. The Fed has kept rates unchanged in its meetings in January, March, April, and June this year.
Market expectations suggest that rates will remain steady during this upcoming meeting.
* This article has been translated by AI.
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