President Donald Trump urged Federal Reserve Chairman Jerome Powell to slash interest rates by a full percentage point despite a better-than-expected jobs report Friday.
Trump, who regularly badgers Powell to lower rates, argued for the steep cut even as he maintained that the U.S. economy is “doing great.”
“Go for a full point, Rocket Fuel!” Trump wrote in a Truth Social post.
Markets forecast a virtually zero chance of any rate cut — much less a 1 percentage point decrease — following the Federal Open Market Committee’s next meeting later this month.
The Fed cut rates by one full point in total during President Joe Biden’s final year in office.
