Trump Demands 1% Rates After Fed Hike
Trump Demands 1% Rates After Fed Hike
The News
President Donald Trump demanded the Federal Reserve slash interest rates to 1% "or less" on Wednesday afternoon, hours after the central bank announced its first rate hike since 2023, CNBC and Reuters reported.
Trump made the demand in a post on his Truth Social platform, writing that "Interest Rates in the United States should be 1%, or less," according to Raw Story.
Mediaite reported that the president, who was widely expected to respond to the decision, fumed at the Fed and told the central bank to "LOWER THE INTEREST RATES."
Timeline
The Federal Reserve announces an increase in interest rates, its first hike since 2023.
Trump posts on Truth Social demanding the opposite: a cut to 1% or lower. Reuters, CNBC, Mediaite, Raw Story and Citizen Free Press all report the statement within minutes of each other.
Reactions
Trump's own words were the reaction: he called for rates at "1%, or less, because we are the Best" — his post cut off in the coverage there — and told the Fed to lower borrowing costs, per Raw Story and Mediaite.
Coverage split along predictable lines. Raw Story described the post as a "meltdown" after the Fed "defied his wishes." Mediaite framed it as an angry post that was widely expected. CNBC and Reuters reported it straight: the president wants 1% or lower, the Fed just went the other way.
The conservative aggregator Citizen Free Press carried the president's statement without commentary.
What's Next
The Fed's rate decision stands; the central bank sets policy independently of the White House, and nothing in Wednesday's posts changes the rate it just set.
The open question is whether Trump escalates from demands to pressure on the Fed's leadership — and how the central bank answers at its next policy meeting.
Poll
Should the Federal Reserve cut interest rates to 1% as Trump demands?
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