Key TakeawaysPresident Donald Trump demanded the Federal Reserve lower its benchmark interest rate by an entire percentage point.The Fed, which operates independently of White House control, has resisted Trump's call to lower interest rates.

The U.S. Federal Reserve should cut interest rates by a full percentage point, President Donald Trump said on Friday as he reiterated his view that Fed Chair Jerome Powell has been too slow to lower borrowing costs.

The president has repeatedly berated Powell for not cutting rates as he desires. The two men met face-to-face for the first time last week.