Trump says again: Fed must cut interest rates
2025-07-28 14:24:13
On July 28 local time, US President Trump said that the Federal Reserve must cut interest rates. Trump said that "the United States is doing well even if it does not cut interest rates, but the United States will be better after cutting interest rates". Federal Reserve Chairperson Powell's term ends in May 2026. Powell's Fed is unwilling to follow Trump's request to cut the base rate from the current target range of 4.25% to 4.50% to 1% in order to reduce the federal government's borrowing costs. Trump is dissatisfied with this and has repeatedly threatened to let Powell "leave".
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