Archive · 13 Sep 2026
Trump urges lowest US interest rates ahead of Fed meeting
Donald Trump wants the United States to have the world’s lowest interest rate.
Interest rates affect how expensive it is to borrow money.
The Federal Reserve was preparing to meet on September 15 and 16.
Trump said he did not know whether the Fed would raise rates.
A measure of underlying inflation had just recorded its biggest increase in four months.
That made a rate increase seem more likely to some observers.
Trump said higher U.S. rates help other countries more than the United States.
Kevin Hassett said Trump would respect Kevin Warsh’s independence, even though Trump would probably dislike a rate hike.
Donald Trump said the United States should have the world’s lowest interest rate.
Trump said he did not know whether the Federal Reserve would raise rates at its September 15–16 meeting.
A key underlying inflation measure in the Labor Department’s Consumer Price Index posted its largest increase in four months.
Trump argued that U.S. interest rates make other countries richer at America’s expense.
Kevin Hassett said Trump would defend Federal Reserve Chair Kevin Warsh’s independence, although a rate hike would likely disappoint him.
- Who
- U.S. President Donald Trump, Federal Reserve policymakers, Federal Reserve Chair Kevin Warsh, and National Economic Council Director Kevin Hassett.
- What
- Trump called for the United States to have the world’s lowest interest rate before the Federal Reserve’s policy meeting.
- When
- Trump spoke on Sunday, September 13; the Federal Reserve meeting was scheduled for September 15–16.
- Where
- Trump spoke to reporters at the Irish Open golf tournament in Doonbeg, Ireland.
- Why
- Trump said U.S. interest rates make other countries richer at America’s expense, while recent inflation data strengthened expectations of a possible rate increase.
Trump’s preference
Federal Reserve independence and economic data
Interest-rate level
Trump’s preference
Trump argued that the United States should have the world’s lowest interest rate and said current rates make other countries richer at America’s expense.
Federal Reserve independence and economic data
The Federal Reserve’s decision is expected to consider inflation and economic data; the reported increase in underlying inflation reinforced expectations of a possible rate hike.
Political and affordability concerns
Trump’s preference
Trump’s position reflects concern that higher borrowing costs could worsen affordability and voter concerns before the midterm elections.
Federal Reserve independence and economic data
The Federal Reserve’s governors are meeting to make a policy decision, and Kevin Hassett said Trump would defend Kevin Warsh’s independence regardless of the outcome.
Reaction to a possible rate hike
Trump’s preference
Hassett said Trump would probably not be very happy if the Federal Reserve raised rates.
Federal Reserve independence and economic data
Hassett also said Trump would uphold Warsh’s independence even if the central bank chose to raise rates.
- Trump’s position
- He said the United States should be paying the world’s lowest interest rate regardless of what Federal Reserve data shows about inflation and the economy.
- Federal Reserve meeting
- The policy meeting was scheduled for September 15–16.
- Inflation data
- A key underlying measure in the Labor Department’s Consumer Price Index recorded its largest increase in four months.
- Political timing
- The meeting was scheduled weeks before midterm elections that would determine whether Republicans retained slim majorities in both chambers of Congress.
- Trump’s warning
- Two weeks earlier, Trump posted that he would stop trading with countries with which the United States had a trade deficit unless rates were lowered.
- Kevin Hassett’s statement
- Hassett said Trump would defend Kevin Warsh’s independence regardless of the Federal Reserve’s interest-rate decision.
- Additional inflation factor
- One version of the report said U.S. crude prices had risen 20% in two weeks because shipping through Middle East routes was disrupted; the Reuters version did not include this detail.
