US President Donald Trump has called on Federal Reserve Chairman Jerome Powell to cut interest rates, saying it is the “perfect time” to do so.
“Lower interest rates, Jerome, and stop playing politics,” Trump told the US central bank chairman on his Social Truth network.
Powell had previously said that the new tariffs Trump imposed were “larger than expected” and would likely lead to an economic downturn and higher inflation.
“We are facing a very uncertain outlook with heightened risks of higher unemployment and higher inflation,” Powell told reporters.
Major US stock indexes have fallen 10 percent since Trump announced the new tariffs two days ago.
Powell did not comment on the stock sell-off, but said the Federal Reserve was facing the same uncertainty that has gripped investors and corporate executives.
