US President Trump has stated that US interest rates should be lowered to 1% or lower, citing that the US has the strongest credit in the world and its economy is attracting a large amount of new investment. Trump said that if the United States stops trading with countries with trade deficits, it could gain at least $1.5 trillion in benefits annually. He stated that a trade deficit essentially means losses, and said that the long-term burden of global trade costs on the United States cannot continue. Trump urged the Federal Reserve to quickly lower interest rates, stating that reducing borrowing costs would contribute to the development of the US economy. (Source: Golden Ten Data)

After the Federal Reserve raised interest rates, JPMorgan Chase, KeyCorp, and Bank of New York Mellon raised their prime lending rate from 6.75% to 7%, with the new rate taking effect from Thursday local time.

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The three major stock indexes of the US continued to decline after the press conference of Federal Reserve Chairman Kevin Walsh, with the S&P 500 index falling 1%, the largest decline since July 29th, the Dow Jones Industrial Average falling 1.65%, and the Nasdaq falling 0.6%.

Two months before the 2024 election, the Federal Reserve led by former Federal Reserve Chairman Jerome Powell cut interest rates by 50 basis points when the core CPI was 3.3%; Two months before the 2026 midterm elections, Federal Reserve Chairman Kevin Walsh raised interest rates by 25 basis points when the core CPI was 2.4%. US President Trump chose Federal Reserve Chairman Kevin Walsh as chairman, but after taking office, Federal Reserve Chairman Kevin Walsh raised interest rates citing the strengthening US economy, high inflation, and geopolitical risks caused by the US crackdown on Iran.