Donald Trump told the Fed not to cut rates before the election—but Wall Street is convinced he won't get his way

Left: Jerome Powell, chairman of the US Federal Reserve, during a news conference following a Federal Open Market Committee (FOMC) meeting in Washington, DC, US, on Wednesday, May 1, 2024. The Federal Reserve signaled fresh concerns about inflation as it reaffirmed it needs more evidence that price gains are cooling before cutting interest rates from a two-decade high. Photographer: Al Drago/Bloomberg via Getty Images Right: ATLANTA, GEORGIA - JUNE 27: Republican presidential candidate, former U.S. President Donald Trump participates in the CNN Presidential Debate at the CNN Studios on June 27, 2024 in Atlanta, Georgia. Former President Trump and U.S. President Joe Biden are facing off in the first presidential debate of the 2024 campaign. (Photo by Justin Sullivan/Getty Images) (Credit: Left: Al Drago—Bloomberg via Getty Images. Right: Justin Sullivan—Getty Images)

September is seemingly the month Wall Street is pencilling in a cut to the base rate by the Fed—but former President Donald Trump won't be pleased.

In an interview with Bloomberg released last week, the current Republican presidential nominee attempted to quash any plans to cut the base rate ahead of the November elections.