#Donald Trump Calls For A 100 Bps Fed Rate Cut Ahead June FOMC Meeting

US President Donald Trump has urged Jerome Powell and the FOMC to go for a full point Fed rate cut ahead the June meeting on 17 and 18.

Highlights

Trump urged "too late" Jerome Powell to cut rates by 1% from the current benchmark 4.25% to 4.5% interest rate.

The president alluded to the fact that Europe has cut rates 10 times this year while the Fed is yet to make any.

He asked the Fed to cut rates and approved them to raise it again if inflation comes back.

CME FedWatch data shows there is a 99% chance that interest rates will remain unchanged following the June FOMC meeting.

Donald Trump continues to pressure the US Federal Reserve to cut interest rates despite Jerome Powell and the committee’s hesitance. This time, the president has called for a “rocket fuel” 100 basis points (Bps) Fed rate cut ahead of the FOMC meeting later this month.