Trump says US interest rate is at least 3 points too high

US President Donald Trump 

US President Donald Trump on Wednesday called on the Federal Reserve to lower the federal benchmark interest rate by at least 3 percentage points, renewing his call for the US central bank to lower rates to help reduce the cost to service the nation's debt.

 

"Our Fed Rate is AT LEAST 3 Points too high. “Too Late” is costing the US 360 Billion Dollars a Point, PER YEAR, in refinancing costs. No Inflation, COMPANIES POURING INTO AMERICA. “The hottest Country in the World!” LOWER THE RATE!!!" Trump wrote on Truth Social.

 

Trump's post comes a day after he said Federal Reserve Chairman Jerome Powell should resign immediately if it is proven he misled Congress, referring to Federal Housing Finance Authority Chairman Bill Pulte’s allegations about Powell's testimony before Congress regarding plans to renovate the central bank's headquarters.

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