Trump says interest rate should be 1% or less

June 30 (Reuters) - President Donald Trump said on Monday that the United States' interest rate should be 1% or less, adding that Federal Reserve Chair Jerome Powell and members of the Federal Reserve Board of Governors have failed to do their jobs.

"If they were doing their job properly, our country would be saving trillions of dollars in interest cost," he said in a Truth Social post. "We should be paying 1% Interest, or better!"