Trump reiterated that the Federal Reserve must cut interest rates.

On July 28th local time, US President Trump stated that the Federal Reserve must cut interest rates. Trump said, "Even if interest rates are not lowered, the US is doing well, but it will do even better after they are lowered." Federal Reserve Chairman Powell's term ends in May 2026. The Federal Reserve led by Powell is unwilling to comply with Trump's request to cut the target range of the benchmark interest rate from the current 4.25% to 4.50% to 1%, in order to lower the borrowing costs of the federal government. Trump is unhappy about this and has threatened multiple times to make Powell "walk."