Trump Calls for Aggressive Interest Rate Cuts: Urges Fed to Reach 1%

In a recent campaign speech, former President Donald Trump urged the Federal Reserve to significantly lower interest rates, pushing for a reduction to 1%. He argued that this move would stimulate economic growth and reduce borrowing costs. Trump’s proposal emerged amidst growing pressure on current Chair Jerome Powell, whose term expires in May 2026. He asserted that every point increase in rates adds $360 billion in annual government spending, a burden he believes the Fed should alleviate.