Trump's Call for Interest Rate Cuts Amid Fed Testimony
President Donald Trump urged for a significant decrease in U.S. interest rates, as Federal Reserve Chair Jerome Powell prepares to testify before Congress. Trump's comments highlight his ongoing pressure on Powell, who has maintained steady rates amidst inflation concerns and the potential impact of import tariffs.
In a recent statement, U.S. President Donald Trump called for a substantial reduction in interest rates, urging for a decrease of at least two to three percentage points.
His comments surfaced just before Federal Reserve Chair Jerome Powell began his testimony before Congress, where he is expected to address his stance on current rate levels. Trump's push for rate cuts is seen as part of a broader strategy to influence monetary policy amid economic tensions.
While the Federal Reserve has kept rates steady, Trump's remarks raise questions about the future direction of interest policies, especially with Powell's term nearing its conclusion next May. The backdrop of potential inflation and trade tariffs adds complexity to the ongoing monetary debate.
(With inputs from agencies.)
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