U.S. President Donald Trump increased pressure on Federal Reserve (Fed) Chair Jerome Powell, reiterating his call for interest rate cuts amid a sharp decline in the stock market.
On the 4th (local time), President Trump wrote on his social media, "Now is the perfect time for Chair Powell to lower interest rates. He is always late, but this time he can act quickly to change that image."
President Trump emphasized the need for interest rate cuts, citing the decline in energy prices, easing inflation, and a 69% drop in egg prices, stating, "Jobs have increased. All of this happened just two months after my second administration began." He then directly urged, "Lower the rates, Jerome. Stop being political."
Earlier, President Trump demanded an interest rate cut last month when the Fed held rates steady, saying, "Do the right thing." These remarks came as financial market anxiety grew following the recent announcement of mutual tariffs, leading to a sharp decline in the New York stock market.