Trump Calls for Lowest Global Interest Rates, Backs Fed Chair Kevin Warsh

Speaking aboard Air Force One, Trump praised Fed Chair Kevin Warsh while criticizing the political composition of the Fed’s Board of Governors. The remarks came two days before the Federal Open Market Committee’s scheduled policy decision.

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The Fed’s target for the overnight borrowing rate has been held at 3.5 %–3.75 % since a three-quarter-point reduction in late 2025. By contrast, the Bank of England’s rate sits at 2.25 %, the European Central Bank at 2.25 %, Japan at 1 %, and China at 3 %. Recent Fed officials have voiced concern over “persistently high inflation,” and Dallas Fed President Lorie Logan, a voting FOMC member, called for “modestly higher” rates.

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• Fed benchmark range: 3.5 %–3.75 % (current target).

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• Peer central-bank rates: United Kingdom 2.25 %; Eurozone 2.25 %; Japan 1 %; China 3 %.

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He framed the rate-cut request as a competitive necessity, noting that other countries are paying lower rates. In response, Fed officials have signaled a likelihood of holding rates steady at the upcoming FOMC meeting, with market pricing indicating roughly a one-in-three chance of a quarter-point hike.

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• “Rates should be lowered... We have other countries that are paying less interest rates,” — Donald Trump, US president

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• “We should have the lowest interest rate in the world, like it used to be 30 years ago,” — Donald Trump, US president

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• “Kevin is fantastic, but he's got a board, and the board members are very political,” — Donald Trump, US president

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