U.S. President Donald Trump says the Federal Reserve should set its benchmark interest rate at 1% to lower government borrowing costs, allowing the administration to finance the high and rising deficits expected from his spending and tax-cut bill,

President Donald Trump says he has finally found a way to achieve his goal of removing Federal Reserve Chair Jerome Powell, accusing him of mismanaging the U.S. central bank’s $2.5 billion renovation project.

President Trump criticizes Jerome Powell's handling of interest rates before departing the White House in July 2025, saying he's doing a terrible job.

WASHINGTON, July 9 (Reuters) - U.S. President Donald Trump on Wednesday called on the Federal Reserve to lower the federal benchmark interest rate by at least 3 percentage points, renewing his call for the U.S. central bank to lower rates to help reduce the cost to service the nation's debt.

President Trump says Fed rate cuts would save the government as much as $900 billion a year in interest payments on its debt. Is that fight?

As he sought to recapture the White House in 2024, Donald Trump promised to "put a temporary cap on credit card interest rates at 10%." During his presidency, bipartisan lawmakers have introduced bills to cap credit card interest rates, but they've failed to advance.

Trump criticizes Federal Reserve Chairman Powell for expensive headquarters renovations while expressing frustration over interest rate decisions and previewing upcoming trade deals.