Trump on interest rates: criticizes Fed after Sept. 16 rate rise

President Trump criticized the Federal Reserve on social media after the Fed on Sept. 16 raised its benchmark interest rate, saying “Interest Rates in the United States should be 1%, or less,” and demanding the central bank lower borrowing costs fast. The original-keyword trump on interest rates appears in his post and in official coverage.

Trump wrote the comment on his Truth Social account after Fed policymakers voted to lift their target by 25 basis points. Reuters reported he wrote, “LOWER THE INTEREST RATES FOR THE UNITED STATES OF AMERICA, AND FAST!” and said the U.S. should have “the Best Credit in the World — BY FAR.”

empty bank lobby with rows of generic teller counters and a lone closed sign on a service window, muted daylight through large windows

The Fed’s move on Sept. 16 raised the target federal funds range to 3.75%–4.00%, according to Fed statements and coverage of the Federal Open Market Committee meeting. Fed Chair Kevin Warsh called the decision “a sober decision, serious decision, responsible decision” and cited persistent inflation readings as the reason for tightening.

Trump has repeatedly pushed for lower rates in public comments and threats, including earlier September posts saying he would press for cuts; the site has previously reported his calls for the Fed to lower borrowing costs. For background, see the Fed coverage and Trump comments in earlier reporting.

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Analysts noted the Fed’s policy projections show most policymakers expect at least one more quarter-point hike this year, a detail Reuters highlighted after the FOMC statement. Warsh said summer inflation readings “do not tell me that underlying trends have improved,” explaining why further tightening was possible.

Why it matters: higher short-term rates raise borrowing costs for mortgages, business loans and credit cards, a dynamic economists and reporters flagged when covering the Fed decision and Trump’s reaction. Markets reacted to the Fed move as investors reassessed the path for borrowing costs.

Sources

Reuters — Trump’s Truth Social posts and Reuters reporting on his reaction and Fed meeting details, including the 25 basis point hike and Warsh quotes.
Associated Press — coverage confirming the Fed’s Sept. 16 rate decision and summary reporting on reactions.
The Hill — reporting on Trump’s demand for lower rates after the Fed decision.