Trump Urges Fed Rate Cuts Amid Tariff Concerns

President Trump called on the Federal Reserve to cut interest rates following the Fed's decision to maintain its current guidance for two rate cuts later in the year. Trump stated in a Truth Social post on Wednesday that the Fed would be "MUCH better off CUTTING RATES as U.S. tariffs start to transition (ease!) their way into the economy." He also referred to April 2nd as "Liberation Day in America," the date he intends to impose reciprocal tariffs. Fed Chair Jerome Powell previously stated that Trump's trade policies and associated economic uncertainty would likely slow economic growth and increase inflation this year. Powell also noted that "Inflation has started to move up now, we think partly in response to tariffs."