The United States President expressed a desire to see interest rates lowered, stating outside the White House, “There is no inflation [in the United States], and therefore I would like to see the rates lowered,” while humorously pondering if he could appoint himself as the Federal Reserve Chair.
Despite President Trump’s persistence, the U.S. Federal Reserve is expected to maintain interest rates following today’s meeting, given the challenges in assessing the impacts of Trump’s decisions.
Financial sector insiders almost unanimously anticipate that the world’s most influential central bank will opt to keep the ‘status quo’ for the fourth successive time. After two days of closed meetings, on Tuesday and today, interest rates are set to remain between 4.25% and 4.50%, unchanged since December.
This decision is likely to reignite dissatisfaction from the U.S. President, Donald Trump, who last Thursday mocked Fed Chair Jerome Powell, even calling him a “fool”.
Trump, while stating “I wouldn’t fire him,” mentioned he did not see an issue if such an action were taken.
He argues that the Federal Reserve should lower interest rates amid what he claims is “under control” inflation, assuring he would fully support a rate increase later, should prices surge.
