Trump Reiterates: The Federal Reserve Must Cut Interest Rates

According to Jinse Finance, on July 28 local time, U.S. President Trump stated that the Federal Reserve must cut interest rates. Trump said, "Even without a rate cut, the U.S. is doing very well, but with a rate cut, the U.S. will do even better." Federal Reserve Chairman Powell's term will end in May 2026. Under Powell's leadership, the Fed has been unwilling to lower the benchmark interest rate from the current target range of 4.25% to 4.50% down to 1% as Trump requested, in order to reduce the federal government's borrowing costs. Trump is dissatisfied with this and has repeatedly threatened to remove Powell from his position.