Trump demands Fed lower interest rates amid steady inflation, rising mortgage costs
Newsy
Trump is urging Fed Chair Jerome Powell to cut interest rates immediately, ahead of next week’s meeting, as inflation holds at 2.4%.
President Donald Trump is again pressuring Federal Reserve Chair Jerome Powell to lower interest rates, suggesting Powell has the authority to do so before the Fed’s next scheduled meeting.
The Federal Reserve is set to meet next week. While Powell is a key voice, the board’s seven members collectively decide whether to change rates.
“Where is the Federal Reserve Chairman, Jerome ‘Too Late’ Powell, today? He should be dropping interest rates, IMMEDIATELY, not waiting for the next meeting!” Trump wrote Thursday on Truth Social.
RELATED STORY | Poll: High interest in State Of The Union amid economic worries
Trump’s remarks came hours after the Bureau of Labor Statistics reported that the consumer price index rose 2.4% in the 12 months ending in February. That rate has held relatively steady but is slightly above the Fed’s 2% inflation target.
The U.S. military Friday bombed new military targets on Kharg Island, a primary terminal for Iran's oil exports.
Mixed martial arts fans will have a chance to watch a historic UFC fight card near the White House on June 14. UFC CEO Dana White said about 85,000 tickets for the event will be given away.
The man killed in a deadly shooting at Old Dominion University in Virginia was identified by the school as Lt. Col Brandon Shah, a retired Army officer and professor of military science at the school.
Trump is urging Fed Chair Jerome Powell to cut interest rates immediately, ahead of next week’s meeting, as inflation holds at 2.4%.
A man with a rifle who crashed into a large Michigan synagogue in what federal officials say was an attack had lost four family members in an Israeli airstrike in his native Lebanon last week.
Senate Democrats introduced a resolution requiring congressional approval before any U.S. military action against Cuba, challenging Trump’s plans.
President Trump repeated claims on Wednesday that the conflict in Iran was "won." Administration officials have said the fighting may continue for weeks.
The war in the Middle East is now causing the "largest supply disruption in the history of the global oil market," according to the International Energy Agency.
Authorities are searching for two people suspected of stealing drones from Fort Campbell in Kentucky.
The Senate passed a broad bill on Thursday to make U.S. housing more accessible and affordable, a rare bipartisan effort in Congress to address a growing national problem.
California is on alert after an FBI memo warned of a possible Iranian drone attack; Newsom says no imminent threat but state remains prepared.
New industry reports show 42% of restaurants weren't profitable last year as rising food, labor and other costs squeeze already slim margins.
Iran’s Gulf attacks halt oil flow, push crude past $100, and drive U.S. gas prices up 54¢ in a month amid escalating Middle East war.