ISTANBUL

US President Donald Trump on Tuesday again urged the Federal Reserve to cut the policy rate by three points, claiming low inflation, claiming that doing so would save the US great sums of money.

"Fed should cut Rates by 3 Points. Very Low Inflation. One Trillion Dollars a year would be saved!!!" Trump wrote on social media.

In a separate post, Trump touted “LOW” consumer prices, even though annual inflation in the US was at 2.7% in June, above market expectations.

"Bring down the Fed Rate, NOW!!!" he added.

On a monthly basis, consumer prices rose 0.3% in June, matching forecasts.

The president has repeatedly demanded that the Fed cut interest rates, citing moves by the European Central Bank, which has cut its benchmark rate several times in 2024 and 2025, and warned that delays could stall the US economy.

The Fed, however, has kept the policy rate constant in previous meetings, in the 4.25%-4.5% range.

Trump has also previously called Fed Chair Jerome Powell "terrible,” "a fool,” "a major loser," and a "numbskull."

On Sunday, Trump said that he hopes Powell quits.

"I think if Jerome Powell stepped down, it would be a great thing. I don't know that he's going to, but he should," Trump told reporters at Joint Base Andrews in Maryland.

Last week, The Wall Street Journal reported that Trump is considering White House economic adviser Kevin Hassett to be the next Fed chair.

Powell's tenure is set to end next May.