Donald Trump criticized Fed Chairman Jerome Powell, calling for a two-point interest rate cut to stimulate the economy

Trump has called Powell 'inept' and said an interest rate cut could save the US $600 billion annually. Although markets have not reacted significantly, the likelihood of a cut in September has increased. The Trump administration continues to put pressure on the Fed, with government officials criticizing its refusal to cut interest rates. Powell has said he cannot be easily dismissed under the law.