Claim $500Donald Trump Again Urges Jerome Powell & The Fed To Lower Rates Ahead FOMC Meeting
Highlights
- US President Donald Trump has again urged the Federal Reserve to lower interest rates.
- Trump asserted that there is no inflation, which is why he believes that they should cut rates.
- The Fed is currently in a tight position as the stagflation concerns increase.
US President Donald Trump has again called on the Federal Reserve to cut interest rates ahead of the FOMC meeting, which will take place between May 6th and 7th. This comes as market participants remain uncertain about whether the Fed will decide to ease monetary policies following recent macro data pointing to a slowing economy.
Donald Trump Urges The Fed To Lower Rates
In a Truth Social post, Donald Trump stated that there is no inflation. As such, he urged Jerome Powell and the Fed to lower interest rates. He also noted that energy prices are down, mortgage rates are down, employment is strong, and “much more good news,” including the billions of dollars from tariffs, which support the calls for a rate cut.
The president’s statement comes amid the latest release of the US jobs data, which showed that Nonfarm payrolls increased by 177,000 compared to market expectations of 133,000. This indicates that the labor market is strong, which would usually motivate the Fed to keep rates unchanged.
However, other macro data have raised concerns about a recession or stagflation in the US economy. This includes the Q1 GDP data, which showed a slowdown in the economy just as Donald Trump warned. As CoinGape reported, the odds of a US recession this year have surged to new highs on the back of the GDP and PCE inflation data.
It is also worth mentioning that Donald Trump’s latest call for lower interest rates comes just days before the May FOMC meeting, which is scheduled for the 6th and 7th. At the moment, traders bet there is a 98% chance that the Fed will keep rates unchanged following the FOMC meeting.
However, there is optimism that the Fed will start cutting rates from June. Traders expect that there will be four Fed rate cuts this year, with the others coming in July, September, and December.
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