Washington, D.C. (WDNews) — President Donald Trump said it’s time for the Federal Reserve to lower interest rates, telling reporters that while the U.S. economy is booming, high mortgage rates are locking out potential homebuyers.
He made the remarks following a tour of the ongoing renovations at the Federal Reserve’s headquarters in Washington, D.C.
“We want to see interest rates come down,” Trump said. “Our country is booming. The interest rates are the final little notch.”
Trump pointed to falling inflation, strong jobs numbers, and record-breaking revenues driven by tariffs as reasons why rate cuts are now appropriate
. “We have no inflation. We have a lot of cash coming in,” he said, claiming a single point cut in interest rates could save the government $365 billion annually.
He also highlighted Japan’s recent trade deal with the U.S., saying it included a $550 billion payment and increased market access for American goods.
Addressing the state of housing, Trump argued that many Americans can’t afford homes due to high borrowing costs.
During his visit, Trump also criticized cost overruns in the Fed building’s construction. He noted the high cost of basement-level work and underground parking, comparing the project to his previous redevelopment of the Old Post Office into the Trump Hotel.
Senator Tim Scott, who joined Trump on the tour, echoed the president’s concerns
. “President Trump has created the best economy in the world. The one thing that would make it better is lower interest rates,” Scott said.
Trump concluded by reaffirming his belief that Powell and the Fed will act soon, saying, “Everybody knows what the right thing is… Even people that believe in higher rates, they all want to see the interest rates come down.”
