President Donald Trump is once again pressing the Federal Reserve to slash interest rates, issuing a call on Truth Social for a substantial reduction in borrowing costs.
In a Monday morning post, Trump wrote of Federal Reserve Chairman Jerome Powell: “Too Late’ Must cut interest rates, now and bigger than he had in mind. Housing will soar!!!”
The Fed has held rates at elevated levels in an effort to tame inflation, even as mortgage costs and borrowing expenses have weighed heavily on consumers. Trump, who has frequently criticized the central bank, argued that a dramatic rate cut would unlock much-needed growth in the housing market.
Trump's post underscores a sharp contrast with the Fed’s cautious stance, as policymakers balance cooling inflation with signs of slowing economic activity and a weakening labor market.
The Fed is set to begin a two-day meeting Tuesday, and markets widely expect it to announce a 25 basis point fed funds interest rate cut at the conclusion of the meeting, on Wednesday at 2 p.m.