On Monday, U.S. President Donald Trump urged the Federal Reserve to cut interest rates after the U.S. central bank decided last week to keep them unchanged.
Trump said during a meeting with his cabinet members at the White House: “I would like to see the Federal Reserve lower interest rates.”
This was not the first time Trump called for an interest rate cut; he did the same at the end of January last year in a speech delivered online to a large number of business leaders participating in the World Economic Forum in Davos, demanding an “immediate interest rate cut.”
During his presidential campaign, Trump repeatedly targeted the Chairman of the Federal Reserve, whom he had appointed during his first term, accusing him of working in favor of the Democrats.
The U.S. Federal Reserve kept interest rates unchanged in its latest meeting on March 19, maintaining the range at 4.25% – 4.50%. This decision aligned with widespread expectations amid growing concerns about an economic slowdown and the return of inflationary pressures.
