FX.co ★ Trump Renews Pressure on Fed for Major Rate Cuts

On Wednesday, U.S. President Donald Trump called on the Federal Reserve to reduce interest rates by a minimum of 3 percentage points, suggesting that such a move would alleviate the financial strain of national debt refinancing. He expressed his views on Truth Social, stating, “Our Fed Rate is AT LEAST 3 Points too high.” Trump claimed that high interest rates cost the U.S. $360 billion per point each year. He mentioned there was "No Inflation," and a surge in companies entering the U.S., dubbing it, “The hottest Country in the World!” urging for a rate reduction. Meanwhile, the minutes from the June 17–18 Federal Open Market Committee (FOMC) meeting revealed that most Federal Reserve officials thought a rate cut would likely be warranted later in the year. They emphasized that future policy decisions would depend on economic data, projections, and prevailing risks, while indicating that tariff-related inflation might be “temporary or modest.”