According to Deep Tide TechFlow news, on July 2, it was reported by Jin Ten Data that U.S. Treasury Secretary Mnuchin stated on Tuesday night that he believes the Federal Reserve may cut interest rates in September or 'even earlier' since, so far, Trump's tariffs have only triggered mild inflation. 'I think the standard is that tariffs do not cause inflation. If they are to follow this standard, I think they might take action earlier, but certainly before September,' Mnuchin said. 'I guess this tariff imbalance syndrome might even occur at the Federal Reserve.' At the time of Mnuchin's remarks, Trump intensified pressure on the Federal Reserve and Powell, calling for interest rates to be lowered by as much as 3 percentage points.