Trump Demands World's Lowest Interest Rate Ahead of Fed Meeting

Key facts

• Trump made the statement on Sunday while speaking to reporters at the Irish Open golf tournament at the Trump International Golf Links & Hotel in Doonbeg, County Clare, Ireland.
• Trump said the US 'should be paying the lowest interest rate in the world' regardless of what Federal Reserve data indicates about inflation and the economy.
• The Federal Reserve's policy meeting is scheduled for this week, days after Trump's comments.
• The Labour Department's Consumer Price Index on Friday posted its largest increase in four months, reinforcing expectations of a rate hike.
• The Fed meeting occurs weeks before midterm elections that will determine whether Republicans keep their slim majorities in both chambers of the US Congress.
• Recent Reuters/Ipsos polls indicate a rate rise could add to voter concerns about affordability.
• Trump's approval ratings have fallen as inflation has persisted, and he has argued that Fed interest rate levels have helped other countries at the expense of the US.
• Trump said: 'I know more about formulas than anybody, and with the best credit in the world, we make other countries rich.'
• Trump has been more supportive of Fed leadership since his own pick for chairman, Kevin Warsh, took charge earlier this year, but recently has made his demands more clear.
• Trump is a frequent critic of former Fed chairman Jerome Powell.