Trump advocates for lowest interest rates ahead of Fed meeting

President Trump wants the US to have the lowest interest rates on the planet. He said so from an Irish golf course, because of course he did. Speaking at the Irish Open in Doonbeg on September 13, Trump declared that the US “should be paying the lowest interest rate in the world,” delivering the remarks just two days before the Federal Reserve’s policy meeting kicks off on September 15. The gap between what Trump wants and where rates actually sit The federal funds rate currently sits in a target range of 3.50% to 3.75%. Trump has advocated for rates as low as 1% or below, which would represent a dramatic reduction of more than 250 basis points from current levels. Trump’s argument is straightforward: high interest rates put the US at a competitive disadvantage relative to other nations, increase the cost of servicing a national debt that now exceeds $39 trillion, and act as a drag on economic growth. Inflationary pressures remain elevated. Oil prices have climbed. Job data has come in strong. All of which has led market participants to expect that Fed Chair Kevin Warsh, whom Trump himself appointed earlier in 2026, might actually raise rates rather than cut them. Social media thre...