President Donald Trump has renewed his call for the Federal Reserve to lower interest rates, even as financial markets mostly expect the central bank to move in the opposite direction and raise rates this week. Those expectations have been shaped by a sharp rise in crude oil prices and Treasury yields.
Speaking to reporters in Ireland on Sunday, Trump said: "The United States is so strong, we should be paying the lowest interest rate in the world, regardless of their formulas."
The remarks underline the president’s longstanding view that the strength of the U.S. economy should translate into lower borrowing costs. For now, however, market pricing continues to point more toward further tightening by the Federal Reserve.
