- President Donald Trump called on Federal Reserve Chair Jerome Powell to slash interest rates to avoid an economic slowdown. Still, “it remains to be seen how much rate cuts can actually stem the bleeding” when it comes to things such as consumer goods and housing, which are especially vulnerable to tariffs, a researcher said. Plus, if Trump were to fire the head of the central bank, it could backfire "spectacularly."
The president wants lower interest rates—that’s no secret. He has called on the central bank again and again to cut. “There can almost be no inflation, but there can be a SLOWING of the economy unless Mr. Too Late, a major loser, lowers interest rates, NOW,” President Donald Trump wrote on social media, referring to Federal Reserve Chair Jerome Powell.
