Trump Claims Rate Cuts Could Save Trillions in Interest, "Fed Mouthpiece" Says: Impossible to Achieve

According to a report by Jinse Finance, "Fed mouthpiece" Nick Timiraos stated that Trump claimed if the Federal Reserve lowers short-term interest rates, the United States' interest expenses would decrease by $1 trillion annually. However, the U.S. spent $1.1 trillion on interest payments in 2024, so this claim is almost certainly untrue.