Trump calls on the Federal Reserve to cut interest rates “significantly.”

US President Donald Trump said today that the Federal Reserve must “significantly” and immediately reduce interest rates after keeping them unchanged.
“The Federal Reserve should lower interest rates significantly, now,” Trump said in a post on his social platform, Truth Social.
He added that there was “absolutely no reason” for the institution not to reduce it.
The Federal Reserve kept rates unchanged yesterday, in the first meeting of the Monetary Policy Committee this year, confirming the strength of economic growth.
The committee voted 10 to two to keep rates within a range of 3.50% to 3.75%, with officials noting that the unemployment rate showed “signs of stabilization” while economic activity was “expanding at a strong pace.”
“(Federal Chairman) Jerome Powell ‘too late’ once again refused to cut interest rates, even though he has absolutely no reason to keep them so high,” Trump said in his post.
He noted that Powell “admits that inflation is no longer a problem or a threat,” but the reserve stated in a statement yesterday that “inflation remains fairly high.”
Trump’s post comes as his administration escalates its attacks on the Federal Reserve.
The president is seeking to remove Lisa Cook, an official in the Reserve Board of Governors, on charges of fraud related to a mortgage loan, while the Department of Justice has launched an investigation into Powell regarding maintenance and renovation work at the institution’s headquarters.