Trump Calls for Interest Rate at or Below 1% After Fed Raises Rates for First Time Since 2023

President Donald Trump has called for the Federal Reserve to lower its benchmark interest rate to 1% or below, according to a report published by CNBC. The demand came after the central bank approved its first interest rate increase since 2023, the report said.

CNBC did not detail the size of the rate increase or the Fed's stated reasoning in the excerpt reviewed, but noted that the move marked a shift after a period without hikes dating back to 2023.

The report also referenced an earlier warning from Trump, in which he threatened to cut off trade with countries that run trade surpluses with the United States if the Fed does not cut interest rates. CNBC did not specify when that earlier threat was made or which countries might be affected.

The report's headline referenced Kevin Warsh, though the excerpt provided did not elaborate on his role in the story. CNBC has not published further details in the material reviewed for this article.

Trump has repeatedly pressed the Federal Reserve to lower rates during his time in office, arguing that lower borrowing costs would benefit the U.S. economy. The Federal Reserve operates independently of the White House, though presidents have periodically sought to influence its decisions publicly.

Further details on the Fed's rate decision, its economic rationale, and any response from Fed officials were not included in the source material available at the time of this report.