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US President Donald Trump criticized the Federal Reserve's decision to raise interest rates by demanding they be “1% or less,” citing a booming economy and strong national credit. This demand came shortly after the Fed increased its benchmark federal funds rate to between 3.75% and 4%, despite Trump’s previous calls for lower borrowing costs. The president’s comments reflect his ongoing pressure on Federal Reserve Chairman Kevin Warsh, who has maintained the bank’s independence amid rising inflation concerns and geopolitical tensions, including a prolonged conflict with Iran.
Written by the local model on 2026-09-17,
using this article's own text rather than the other coverage of the
same event (that is the story summary below).
Story summary
On September 16, 2023, the Federal Reserve is expected to raise interest rates by 25 basis points to a range between 3.75% and 4.00%, according to predictions from the CME Group's FedWatch tool which show a nearly 90% likelihood of this happening. This rate hike, aimed at curbing inflation that has remained above the Fed’s goal despite previous efforts, is likely to anger President Donald Trump who has repeatedly called for lower rates. Despite pressure from Trump and Vice President JD Vance, financial markets anticipate the central bank will act decisively due to high oil prices and ongoing geopolitical tensions in the Middle East pushing inflation levels up again. The decision comes amid concerns that higher borrowing costs could further strain an already stressed economy, particularly affecting home buyers and those seeking loans or credit cards.
Written for “Fed Interest Rate Hike” on 2026-09-17,
grounded in this article and the 19 other(s) covering the same event.
Why this leaning score
The model judged this article politically coded and scored it -0.35, but every quote it verified points right, so the score is not published.
Written under an earlier scoring contract, which gave a paragraph
rather than checkable quotes. Re-analysing this article replaces it.
Leaning score withheld for article 14724: score contradicts its own evidence · logged 2026-09-17
Trump says rates should be ‘1% or less’ after Fed hike
US President Donald Trump demanded an interest-rate cut after the Federal Reserve raised rates by a quarter percentage point, defying his repeated calls for lower borrowing costs.
asserted
Reserve → say → costs
In a social media post on Sept 16, Trump said that US rates “should be 1 per cent, or less” because “Our Country is BOOMING with new Investment” and has “the Best Credit in the World”.
asserted
Country → say → World
“LOWER THE INTEREST RATES FOR THE UNITED STATES OF AMERICA, AND FAST!” he posted.
asserted
he → lower → AMERICA
The Federal Open Market Committee voted unanimously to increase the benchmark federal funds rate to a range of 3.75 per cent to 4 per cent, a move that threatens to strain Trump’s relationship with his hand-picked Fed chairman, Kevin Warsh.
asserted
that → vote → chairman
While the president’s message did not mention Warsh by name, his outburst turns up pressure on the Fed chief, whom he encouraged during a swearing-in ceremony earlier this year to be “totally independent”.
asserted
he → mention → ceremony
Driving rates down to Trump’s desired level would require the central bank to make a significant reduction, a move that typically only accompanies a severe economic crisis.
asserted
that → drive → crisis
Trump continued to argue that interest rates have put the US at a competitive disadvantage to other world economies, tying it to the nation’s trade deficit by saying, “We are ‘carrying’ almost every country in the World, and that cannot go on any longer.”
In the past, the president has threatened to cut off trade with partners that have a trade surplus, unless the Fed lowered rates.
asserted
Fed → continue → rates
It is unclear how following through on that threat would lead to lower borrowing costs for Americans.
uncertain
following → follow → Americans
The Sept 16 rate hike, the first since 2023, came as policymakers lost confidence inflation would cool on its own.
asserted
inflation → come → own
The Fed was expected to lift interest rates after recent data showed US consumer prices rising higher than expected in August.
asserted
prices → expect → August
Higher energy prices from the US war with Iran – a conflict now in its seventh month – as well as Trump’s tariff policies, have clouded the picture for the Fed’s inflation targets.
asserted
prices → cloud → targets
Officials in their post-meeting statement characterised inflation as elevated but also described the economy in positive terms, with strong productivity growth and capital investment as well as job gains that were keeping pace with the workforce.
asserted
that → characterise → workforce
In his press conference, Warsh pointed to geopolitical risks as contributing to inflation.
asserted
Warsh → point → inflation
“There is no hiding from hot spots around the world, and our judgment about what is the most likely, or least likely, of the geopolitical situation has changed,” he said.
asserted
he → be → situation
Warsh has vowed to protect the Fed’s independence even as he faced mounting pressure from a president frustrated by a soured midterm political climate for his Republican Party.
asserted
he → vow → Party
Voters give Trump poor marks on the war in Iran and the economy, with high prices for healthcare, housing, energy and groceries a top issue for November’s election.
asserted
prices → give → election
Lower borrowing costs could help Trump and Republican lawmakers argue that an economic boost is on the way and help limit the electoral damage.
uncertain
boost → help → damage
Trump dealt harshly with Warsh’s predecessor, former chair Jerome Powell, regularly lambasting him for not moving more aggressively to reduce rates.
asserted
Trump → deal → rates
The US leader has also pressured the central bank in other ways, including trying to fire Governor Lisa Cook, a move that has been blocked so far by the Supreme Court.
asserted
that → pressure → Court
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