Trump Says Fed Chair Powell Should Cut Rates Right Now

• Trump called for a special meeting of the Fed to cut interest rates.
• The President’s statement comes ahead of the Federal Open Market Committee’s two-day meeting beginning on March 17.
• According to the CME FedWatch tool, there is a 99.1% probability that interest rates will remain unchanged.

President Donald Trump on Monday called on Federal Reserve Chair Jerome Powell to cut interest rates once again.

Addressing reporters while participating in a lunch with the Trump Kennedy Center board members, President Trump called out Powell for what he termed as being “late” with easing interest rates.

“He should cut interest rates; he should cut them right now. They should have a special meeting. What’s a better time to cut interest rates than now?” he said.

When Is FOMC’s Next Meeting Scheduled?

The Federal Open Market Committee (FOMC) is scheduled to hold its two-day meeting on March 17 and March 18.

According to the CME FedWatch tool, there is a 99.1% probability that interest rates will remain unchanged.

“The FOMC will likely further question market pricing of another Fed rate cut this year, where around 23 bps is still priced in by year-end. And the Fed's dot plot could also shift the median expectation of one cut this year back into 2027 as well,” analysts at ING Think said in a recent note.

Trump Criticizes Fed’s Building Renovation Project

The President also criticized the Fed for the $2.5 billion renovation project of its headquarters in Washington, D.C.

“The Fed building, which is going to cost billions of dollars… it may never open. I mean, right now, we have a wonderful Kevin, the wonderful head of the Fed coming in… I don’t know if he’ll ever be able to occupy this complex that was destroyed by Jerome ‘Too Late’ Powell,” he said.

Meanwhile, U.S. equities gained in Monday’s opening trade. At the time of writing, the SPDR S&P 500 ETF (SPY), which tracks the S&P 500 index, was up 1.07%; the Invesco QQQ Trust ETF (QQQ) rose 1.26%; and the SPDR Dow Jones Industrial Average ETF Trust (DIA) gained 0.85%. Retail sentiment on Stocktwits regarding the S&P 500 ETF was in the ‘extremely bearish’ territory.

Also See: Gorilla Technology Lands A Deal Expected To Bring In 5X Of Its 2025 Revenue — Retail Calls It ‘Amazing’ News After Months Of Patience

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