Trump Urges Federal Reserve to Cut Rates After Economic Rebound
President Donald Trump advocates for a reduction in benchmark rates by the Federal Reserve following a better-than-anticipated economic growth of 3% in the second quarter. Trump's call comes as the central bank gets ready to issue its policy statement, suggesting no inflation risk and encouraging home refinancing.
- Country:
- United States
In a renewed call for economic action, President Donald Trump on Wednesday urged the Federal Reserve to cut benchmark interest rates. This request follows newly released data indicating a stronger-than-expected growth rate of 3% for the U.S. economy in the second quarter.
Trump took to Truth Social to highlight the rebound, stating, "2Q GDP JUST OUT: 3%, WAY BETTER THAN EXPECTED! 'Too Late' MUST NOW LOWER THE RATE. No Inflation! Let people buy, and refinance, their homes!" His statement underscores a lack of inflationary threats while advocating for opportunities to refinance homes.
The Federal Reserve is set to release its policy statement, and the President's remarks signal a push for the central bank to take measures to further stimulate economic activity.
(With inputs from agencies.)
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