Trump Urges Major Rate Cut: Impact on U.S. Economy

Former President Donald Trump has reignited his call for the Federal Reserve to enact a substantial reduction in the federal benchmark interest rate, suggesting a cut by at least three percentage points.

Trump stressed that a rate decrease is essential to easing the financial strain associated with servicing the nation's debt and could save the U.S. approximately $360 billion annually.

Through a post on Truth Social, Trump assured there is no risk of inflation and that the reduction would attract more businesses, solidifying the U.S. as a top global economic player.

(With inputs from agencies.)