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President Donald Trump posted on Wednesday afternoon, as he was widely expected to do, fuming about the Federal Reserve’s decision to raise interest rates.
“Interest Rates in the United States should be 1%, or less, because we are the Best Credit in the World — BY FAR. Our Country is BOOMING with new Investment!” wrote Trump on Truth Social, adding:
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. 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! President DONALD J. TRUMP
Federal Reserve Chair Kevin Warsh, nominated this year by Trump, refused to discuss any conversation he had with Trump about the topic during a presser after the decision was announced. The rate hike is the first increase in over three years and was expected, as inflation has ticked up as a result of the war in Iran.
“What is your message here to President Trump?” ABC News’ Elizabeth Schulze asked Warsh during the presser.
“I’ve got nothing for you on the discussion with the president,” going on to emphasize that “the least well-off [Americans] have the most to gain from stable prices. The decision we made today was the right decision to deliver on the remit that Congress gave us to ensure stable prices,” he replied.
Earlier in the month, Trump wildly threatened to stop trading with certain countries if the Fed did not lower rates.
“A STRONG COUNTRY MEANS A LOWER INTEREST RATE – IT’S A BETTER CREDIT…Very simple! We should have the LOWEST RATE of any country in the World, like “the old days.” Without the United States agreeing to allow them their big surpluses, and we could stop that immediately, they would no longer be considered financially ELITE! LOWER THE RATE OR I’LL STOP TRADING WITH COUNTRIES WITH WHICH WE HAVE A DEFICIT, which the U.S. Supreme Court, in its ridiculous and very costly Tariff decision, strongly acknowledged “the President” has an absolute right to do. IT’S BETTER THAN TARIFFS! The Fed Board, with its great new leader, must get smart – BE PATRIOTS for a change. High interest rates put the U.S.A. at a very unfair disadvantage, and I won’t allow that to happen!” Trump wrote on September 4th.
High interest rates not only raise borrowing costs for Americans, but also continue to balloon the U.S. national debt, which surpassed $40 trillion in August, requiring a monthly $96 billion interest payment.
This is a developing story and has been updated.
The post NEW: Trump Demands the Fed ‘LOWER THE INTEREST RATES’ In Angry Post Following Hike first appeared on Mediaite.
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