Trump pushes Fed for bigger rate cut

ISTANBUL

Ahead of its newest rate decision this week, US President Donald Trump is pushing the Fed to make a larger interest rate cut.

The Fed will announce its interest rate decision on Wednesday, with the market expecting a rate cut of 25 basis points.

Trump has been heavily criticizing the Fed, particularly Chairman Jerome Powell, accusing it of being too slow to lower interest rates.

On Monday, he said on his social media platform Truth Social that the Fed "must cut interest rates" to an extent "bigger than he had in mind," presumably referring to Powell.

Cutting rates will also cause the struggling US housing market to "SOAR" he added.