Washington: US President Donald Trump expressed his discontent with the current interest rates in the nation, arguing that the United States should be benefiting from much lower rates. He specifically targeted Federal Reserve Chairman Jerome Powell and the Federal Reserve's board for their handling of monetary policy.

According to Anadolu Agency, Trump took to his Truth Social platform to voice his opinion, stating that the US should aim for an interest rate of 1% or better. He compared the US rates to those of major world economies, highlighting Japan's 0.5% and Denmark's 1.75% as benchmarks. Trump criticized Powell and the Fed's board for their failure to achieve such rates, calling their roles "one of the easiest, yet most prestigious, jobs in America."

Trump emphasized that effective monetary policy could save the country "Trillions of Dollars in Interest Cost." He accused the board of being passive and equally responsible for the current economic situation. In a memo sent to Powell, Trump claimed that the Fed's actions have cost the country significantly and urged for a reduction in interest rates.

White House spokesperson Karoline Leavitt reinforced Trump's stance during a daily press briefing. She noted the stock market's upward trend, attributing it to Trump's 'economic boom,' with the S and P 500 and Nasdaq indexes achieving record highs. Leavitt portrayed Trump as a "businessman first," with a "proven economic formula," asserting that the only hindrance was the high interest rates.

Leavitt presented a note from Trump addressed to Powell, which included a global comparison of interest rates. The note criticized Powell for being "too late" and causing financial losses to the US. Trump reiterated that hundreds of billions of dollars were at stake and dismissed concerns about inflation.

President Trump has consistently urged the Federal Reserve to reduce interest rates, drawing comparisons to European central banks and cautioning that inaction could impede the US economy's growth.