President Donald Trump took to his social media platform to pressure Federal Reserve Chairman Jerome Powell to cut interest rates, citing the recent decline in stock market prices following the president’s tariff announcement. In a series of all-caps tweets, Trump called on Powell to lower rates, pointing to various economic indicators showing positive developments in the economy. The S&P 500 was down 5% in morning trading, while the Dow Jones Industrial Average and Nasdaq composite also experienced significant drops. Trump’s comments came after China retaliated against the U.S. in the ongoing trade war, prompting the president to criticize Beijing’s response. Despite Wall Street’s negative reaction to his tariff policy, Trump insisted that the tariffs were going well and likened the situation to a successful surgery operation. The Federal Reserve operates independently from the president, and it remains to be seen how Powell will respond to Trump’s calls for rate cuts amidst the current economic challenges.
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