On the afternoon of September 16, local time, the US Federal Reserve announced an increase in the federal funds rate by 25 basis points to the 3.75%-4.00% range. US President Trump later posted on social media platforms, “Interest rates in the US should be reduced to 1% or less because America has the best credit in the world. The US is experiencing a boom in investment, and the economy is booming.” Trump urged the Federal Reserve to cut interest rates “and quickly.”

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