President Donald Trump has called on the Federal Reserve to cut interest rates “right now.”
He suggested that the Fed should convene a special meeting and slash interest rates immediately. Trump told reporters that “a third-grade student would know” rates should come down.
“Jerome TOO LATE Powell. I call him too late because he is always too late with interest, should cut interest rates, he should cut them right now,” he said. “What’s a better time to cut interest rates than now?”
The comments represent the latest installment in his sustained campaign to push the central bank to lower rates.
Currently, the federal funds rate remains within a target range of 3.50% to 3.75%. The central bank delivered three rate cuts in 2025 before pausing its easing cycle in January.
Meanwhile, the Federal Open Market Committee is set to begin its scheduled two-day meeting from March 17 to 18. Market expectations, based on CME FedWatch data, indicate a 99% likelihood that policymakers will keep rates unchanged this week.
BeInCrypto reported that the Consumer Price Index (CPI) rose 2.4% year over year in February, aligning with market expectations. Meanwhile, signs of cooling have emerged in the labor market. Nonfarm payrolls dropped by 92,000 in February. Furthermore, the unemployment rate ticked up to 4.4%.
Ongoing geopolitical developments have added to market uncertainty. Rising tensions involving Iran have driven oil prices higher and sparked concerns about inflationary pressures.
The FOMC concludes its March meeting on March 18. Powell will hold a press conference to deliver the rate decision and the committee’s updated forward guidance.
