Trump calls for slashing interest rates to '1% or less' after the Fed's first hike in 3 years

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The Federal Reserve raised interest rates by 0.25 percentage points on Wednesday, marking the first increase since 2023. This adjustment establishes a new target range between 3.75% and 4%. Following the FOMC decision, President Trump called for the opposite action, suggesting that the Federal Reserve should instead slash interest rates to 1% or less. The move represents a significant change in course for the central bank after a three-year period without rate hikes.
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