President Donald Trump issued a menacing threat Friday to blow up the United States’ global trade in an attempt to coerce the Federal Reserve to cave to his demands.
“We should have the LOWEST RATE of any country in the World, like ‘the old days.’ Without the United States agreeing to allow them their big surpluses, and we could stop that immediately, they would no longer be considered financially ELITE!” Trump wrote on his social media platform Truth Social.
“LOWER THE RATE OR I’LL STOP TRADING WITH COUNTRIES WITH WHICH WE HAVE A DEFICIT, which the U.S. Supreme Court, in its ridiculous and very costly Tariff decision, strongly acknowledged ‘the President’ has an absolute right to do. ITS BETTER THAN TARIFFS! The Fed Board, with its great new leader, must get smart - BE PATRIOTS for a change.”
Federal Reserve Gov. Christopher Waller said Thursday that a possible interest rate hike was in play and would be determined by a forthcoming inflation report set to be published next week. Meanwhile, rising oil prices sparked by Trump’s deeply unpopular war against Iran have inflated costs and deepened inflation concerns among experts.
“High interest rates put the U.S.A. at a very unfair disadvantage, and I won’t allow that to happen!” Trump continued.