Trump urges Powell to cut interest rates, but he gets support from lawmakers

Federal Reserve Chairman Powell said on Tuesday that members of Congress privately told him that although Trump accused Powell and the Fed of not lowering interest rates, the Fed is "doing the right thing" on rates. When testifying before the House Financial Services Committee, Powell was asked if he had heard from "bipartisan" sources that rates should be lowered. Powell replied, "I have talked privately with many members of Congress, and they say you are doing the right thing. I have heard many members of Congress say this privately."