US should have the world's lowest interest rate: Trump

No country in the world should have lower interest rates than US, President Donald Trump said on Sunday, days before Federal Reserve's next policy meeting.Speaking to reporters at the Irish Open golf tournament, Trump said he did not know whether Fed policy makers will raise interest rates at their meeting this week. But he argued that US "should be paying the lowest interest rate in the world" no matter what Federal Reserve's data indicates about inflation and the economy.The Fed meeting will take place less than a week after a key measure of underlying inflation, Labor Department's Consumer Price Index, on Friday posted its largest increase in four months. That reinforced expectations that the US central bank will raise rates.The central bank's governors are meeting just weeks before the midterm elections that will determine whether Republicans keep their slim majorities in both chambers of US Congress. A rate hike could add to voter concerns about affordability, according to recent Reuters/Ipsos polls.Trump's approval ratings have fallen as inflation has persisted. He has argued that Fed's interest rate levels have helped other countries at the expense of the US. "I know more about formulas than anybody, and with the best credit in the world, we make other countries rich," Trump said on Sunday.Get the latest Business News and Live updates. Download the TOI app.