Trump has been losing his battle to cut interest rates
President Donald Trump is facing challenges in his goal to lower interest rates, as borrowing costs have risen significantly since early in the year. Despite his pressure on the Federal Reserve, economic indicators show rates at their highest levels in nearly two decades.
Why it matters
The disconnect between the President's economic goals and market reality impacts mortgage affordability and national debt servicing costs.
By JOSH BOAK Updated [hour]:[minute] [AMPM] [timezone], [monthFull] [day], [year] --> Add AP News on Google Add AP News as your preferred source to see more of our stories on Google. --> Share
WASHINGTON (AP) — President Donald Trump has been losing his own battle to cut interest rates.
The president likes to vilify high rates as an affront to the size and strength of the U.S. economy, saying that America deserves the cheapest borrowing costs in the world. Trump for months publicly pressured the Federal Reserve to slash its benchmark rates, claiming it would be “Rocket Fuel!” for growth and make housing more affordable.
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