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Trump calls on Fed to bring interest rates down to 'zero, or less'

U.S. President Donald Trump asked the Federal Reserve to cut interest rates to zero percent or lower as the central bank prepares to meet next week.

"The Federal Reserve should get our interest rates down to [zero], or less, and we should then start to refinance our debt," Trump tweeted, adding that the move could bring the interest cost "way down."

The president said the U.S. should "always be paying the lowest rate," rebuking Fed Chair Jerome Powell for not cutting rates as much as other countries.

Trump seemed to contradict his own statement from August, when he said he does not favor negative interest rates in the country, according to Reuters. However, he asked the Fed to cut the interest rate by at least 100 basis points in a previous tweet.

The Federal Open Market Committee is set to convene Sept. 17 for a two-day monetary policy meeting. Powell said Sept. 6 that the central bank does not expect a recession at all but is continuously looking for "significant risks" to the economy.