Trump Presses Fed for Rate Cuts Before July 28-29 Meeting as Inflation Slows to 3.5%
Updated
Updated · anews.com.tr · Jul 27
Trump Presses Fed for Rate Cuts Before July 28-29 Meeting as Inflation Slows to 3.5%
3 articles · Updated · anews.com.tr · Jul 27
Summary
Trump renewed his demand that the Federal Reserve cut interest rates, saying the U.S. should have the world’s lowest borrowing costs and could grow 8% to 12% with cheaper credit.
June consumer prices fell 0.4% from May, annual inflation slowed to 3.5% from 4.2%, and core inflation eased to 2.6% — data Trump cited as proof price pressures are fading.
The Fed has held its benchmark rate at 3.5%-3.75% since the start of the year, with policymakers set to meet again on July 28-29.
Trump also said some Fed board members were “very political,” while backing Chair Kevin Warsh — who took office on May 22 after replacing Jerome Powell — as wanting to “do the right thing.”