Costs crunch: Donald Trump (pictured) called for interest rates in the US to be cut last night even after inflation hit a seven-month high.
Donald Trump called for interest rates in the US to be cut last night even after inflation hit a seven-month high.
Paul Ashworth at Capital Economics said: ‘With Trump threatening wide-ranging inflationary tariffs, the Fed won’t resume cutting interest rates this year.’.
But writing on his Truth Social platform, Trump said: ‘Interest rates should be lowered, something which would go hand-in- hand with upcoming tariffs!
Closely-watched figures showed that inflation in the world’s biggest economy rose from 2.9 per cent in December to 3 per cent in January – their highest level since June.
