Trump once again urges the Federal Reserve to cut interest rates significantly: "There is no inflation in the US"

On September 10th local time, President Trump criticized Federal Reserve Chairman Powell once again on his social media platform "Truth Social" and urged for an immediate significant rate cut. Trump wrote that the U.S. "has no inflation," and the Fed "must cut rates significantly immediately," calling Powell "a total disaster" and stating that Powell is "clueless." Trump has repeatedly called for rate cuts by Powell. The U.S. unemployment rate rose to 4.3% in August, hitting a near four-year high, worsening job data reinforcing market expectations for a rate cut by the Fed. Analysts expect the Fed to begin a new round of rate cuts in September. On September 7th, White House economic adviser Kevin Hassett stated that the Fed's monetary policy must be completely independent and should not be influenced by any political forces, including those from President Trump.