Trump Urges Fed Rate Cuts Ahead of April 2 Tariff Changes

President Trump is urging the Federal Reserve to cut interest rates as he prepares to implement new tariffs on imports starting April 2, which he has dubbed 'Liberation Day.' In a post on Truth Social, Trump stated that the Fed should act to benefit the economy as tariffs transition into the market, despite the Fed's recent decision to maintain rates at 4.25 to 4.5 percent. Fed Chair Jerome Powell expressed concerns that the impending tariffs could slow economic growth and potentially increase inflation, complicating the Fed's efforts to stabilize prices. Trump described the upcoming tariffs as 'reciprocal,' indicating that the U.S. will match tariffs imposed by other countries, aiming for fairness in trade. His administration has already raised tariffs significantly on various nations, leading to public concerns about a potential recession. Despite these challenges, Trump remains adamant that the tariffs will reclaim wealth lost to foreign competitors.