The Globe and Mail reports in its Tuesday edition that unfortunately for President Donald Trump, his calls for a Federal Reserve fund rate of 1 per cent or lower will almost certainly not be met during the remainder of his presidency, barring an unforeseen catastrophe that forces the Fed to slash rates to zero, as it did during the global financial crisis and the COVID-19 pandemic. A Reuters dispatch to The Globe reports that to add insult to injury, the rates futures market is now pricing in a roughly 50-per-cent chance that the Fed could raise rates again at its next meeting in October, only days before the U.S. midterm elections. Mr. Trump has expressed confidence in Fed chair Kevin Warsh but likely opposes another rate hike before the elections. With his approval ratings near record lows and polls indicating possible Republican losses in Congress, another increase in borrowing costs could address inflation concerns, though Mr. Trump may not view it this way. Many Fed-watchers had dismissed an October hike, believing the Fed, particularly Mr. Warsh, wanted to avoid any political appearance. However, after Wednesday's unanimous rate hike and Mr. Warsh's hawkish news conference, an October move is now a possibility.