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President Trump told Fed Chair Powell directly today: “Not cutting interest rates is a mistake.”
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The Trump administration said it may ask the U.S. Supreme Court as early as this Friday to halt a federal court ruling that blocked tariffs imposed by President Trump.

In a filing submitted to the U.S. Court of Appeals today, the administration stated it would seek an “emergency measure” from the Supreme Court “to prevent serious harm to national security and the economy” if the appellate court moves too slowly. If granted, the ruling issued yesterday by the U.S. Court of International Trade would be temporarily suspended.

White House spokesperson Karoline Leavitt harshly criticized the three judges who struck down Trump’s “reciprocal” tariff orders, saying: “The Supreme Court must put an end to this.” She accused the judges of “brazenly abusing judicial power to block President Trump from carrying out the mandate given to him by the American people… These rulings undermine America’s credibility on the world stage.”

On the same day, another judge in Washington, D.C. also ruled that many of Trump’s tariffs were unlawful.

White House Deputy Chief of Staff Stephen Miller said: “We are living under judicial tyranny… [and] this judicial coup has spiraled out of control… We now have unelected judges trying to dictate tax policy, trade rules, and even control the entire economy.”

Trade advisor Peter Navarro accused the court of being pro-globalization and “biased in favor of imports.”

The three judges under criticism are:
1. Jane Restani (appointed by President Reagan)
2. Timothy Reif (appointed by President Trump)
3. Gary Katzmann (appointed by President Obama)

The Trump administration argued that the ruling was based on a “misguided and dangerous interpretation of the President’s tariff authority.”

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President Trump and Fed Chair Discuss Economy, Avoid Rate Talks
President Trump met with Fed Chair Powell today, but the Fed Chair firmly refused to discuss interest rates. This marks their first meeting since Trump began his second term as President.
Although President Trump has been consistently pressuring the Fed to cut interest rates, the central bank stated that monetary policy was not on the agenda for this meeting.
The discussion focused on economic developments such as growth, employment, and inflation. Chair Powell emphasized that future policy decisions will be entirely based on upcoming economic data and will be analyzed objectively and apolitically, in line with the Fed’s legal mandate to support maximum employment and maintain price stability.
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U.S. Q1 GDP was revised up to -0.2%, compared to the initial report of -0.3%.
Normally, this figure would indicate a weakening economy, but the Fed has dismissed it. The Fed Chair believes the negative GDP is due to companies rushing to import goods ahead of tariff implementation in April, which distorted the data.
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