New Delhi, Sept. 17 -- US President Donald Trump has called for a dramatic reduction in interest rates, hours after the Federal Reserve increased borrowing costs for the first time in more than three years.

In a post on social media on Wednesday, Trump said US interest rates should be "1%, or less", arguing that the American economy was attracting fresh investment and had strong credit credentials. He followed it with a demand for rates to be lowered "fast".

Trump's remarks came shortly after the US Federal Reserve raised its benchmark federal funds rate by 25 basis points to a range of 3.75% to 4%. The decision was unanimous and marked the first rate increase since July 2023, Bloomberg reported.

The move puts the central bank at odds ...