President Trump is renewing his demand for sharply lower interest rates, writing on Truth Social that U.S. rates should be "1%, or less" after the Federal Reserve raised its benchmark rate for the first time in more than three years amid concerns over persistent inflation. Trump argues the U.S. economy is "BOOMING with new investment," and calls for rates to come down quickly. "LOWER THE INTEREST RATES FOR THE UNITED STATES OF AMERICA, AND FAST!," Trump wrote.