Trump urges Fed to lower interest rates

US President Donald Trump Wednesday called for lower interest rates, arguing that rates should decline as the US economy improves rather than rise on concerns over inflation.

"We would really like to see interest rates come down," Trump told reporters at the White House.

"You know, in the old days with interest rates, many of you are too young to know this, but when we announced good numbers, interest rates would go down, and the theory was because the asset value became so good, it became so prime," he said.

"But now, when we announce good numbers, which we're doing all the time, they keep driving the interest rates up because they're so afraid of inflation, and they shouldn't be. They should allow interest rates to go down," Trump added.

The Federal Reserve has held its benchmark interest rate steady this year. Its next meeting on rates is scheduled to conclude on Sept. 16.