U.S. Markets

Trump says U.S. economy entitled to 'substantial' interest rate cut

FILE PHOTO: U.S. President Donald Trump attends Young Black Leadership Summit at the White House in Washington, U.S., October 4, 2019. REUTERS/Yuri Gripas/File Photo

WASHINGTON (Reuters) - President Donald Trump said on Monday he wanted to see the U.S. Federal Reserve enact a “substantial” cut in interest rates because of the lack of inflation in the United States.

“We’d like to a see an interest rate cut, a very substantial one,” Trump said. “We have no inflation. If anything it’s going below the number, so therefore we’re entitled to an interest rate cut. I hope the Fed does that.”

Reporting by Jeff Mason; Writing by Eric Beech; Editing by Sandra Maler