Trump Urges Fed Rate Cuts Ahead of FOMC Decision as Markets Brace for Hold
Former President Donald TRUMP intensified pressure on the Federal Reserve to slash interest rates hours before today's policy decision. Speaking at a White House event, he argued for a 200 basis point reduction to ease government debt burdens, contradicting market consensus expecting unchanged rates at 4.25%-4.5%.
The public admonition targets Fed Chair Jerome Powell, whom Trump confirmed he wouldn't replace despite ongoing criticism. Traders largely dismissed the political intervention, with rate futures pricing 95% odds of policy stasis. Powell's subsequent press briefing may address the unusual public pressure campaign.