📈 Trump calls for interest rate cuts after 3% economic growth: “There is no inflation

Former U.S. President Donald Trump reacted to the report of a 3% growth in GDP in the second quarter, saying it is time to cut interest rates after it is too late, adding: “There is no inflation, let people buy homes and refinance them.”

However, economists warned that quarterly growth is driven by a decline in imports rather than strong domestic demand, while inflation remains above the Federal Reserve's target, which is expected to keep interest rates unchanged currently.