President Donald Trump of the United States on Wednesday called for the reduction of interest rates.
Media Talk Africa reports that this is his latest intervention on a policy that is set by the independent US central bank.
In a post on his Truth Social media, Trump said interest rates should be lowered, something which would go hand in hand with upcoming tariffs.
“Let’s Rock and Roll, America,” he said.
Media Talk Africa reports that Trump has no direct control over the Federal Reserve, however, this is not the first time he has demanded a rate cut since returning to the White House in January.
His latest comment comes after Federal Chair Jerome Powell said there was no need to be in a hurry lowering rates as policymakers keep a close eye on inflation, something that many economists believe Trump’s sweeping new trade tariffs will exacerbate.
Recall that the US President on Monday instituted 25 percent tariffs on all imported steel and aluminum.
He has also threatened widespread duties on goods from all the top US trading partners, measures that would likely drive up prices in the United States.
