Washington: US President Donald Trump called on the Federal Reserve (the US central bank) to lower interest rates today.
In a post on the Truth Social platform on Monday, Trump said that the Federal Reserve should cut rates, as oil prices have dropped, food prices have decreased, and there is no inflation.
He also pointed out that the US will earn billions of dollars weekly from tariffs that have already been implemented.
Trump criticized China's decision to impose a 34 percent tariff on all imports from the US, effective April 10, despite his warnings to countries not to retaliate against US decisions.
This post follows remarks Trump made on Sunday, in which he reaffirmed that he would not back down from imposing broad tariffs on imports from most countries unless those nations contribute to reducing their trade imbalances with the US.
He emphasized his goal of achieving a surplus or at least balancing trade with those countries.
Major stock indices on the US stock market, including the Wall Street, suffered massive losses amounting to billions of dollars at the close of trading last week, heavily impacted by the tariffs imposed by Trump.
