Former Treasury Secretary Lawrence Summers warned that President Donald Trump’s preference for the Federal Reserve’s interest-rate setting would trigger a surge in expectations for inflation, driving up long-term borrowing costs.

Trump has been toying with the idea of ousting Jerome Powell despite expert warnings that doing so could be illegal, while carrying huge risks for the global economy.

San Francisco Federal Reserve President Mary Daly reiterated on Thursday it is "reasonable" to expect two interest rate cuts before the end of this year, particularly with the impact of President Donald Trump's tariffs looking more muted than originally expected.

Trump has been highly critical of Jerome Powell this year, pressuring him to cut rates. The Fed Chair has said he's awaiting further clarity on inflation.

A new report shows inflation has picked up and analysts believe the prices of many goods increased, in part, because of President Trump’s tariffs. It will play into decisions by the Federal Reserve about when and whether to cut interest rates and comes as the president and his team have ramped up their pressure campaign on Fed Chair Jerome Powell.

A Fed policy rate that low is not typically a sign that the United States is the "hottest" country in the world for investment, as Trump has said. It is usually a crisis response to an economy in serious trouble.

WASHINGTON (TNND) — President Donald Trump is once again putting public pressure on Federal Reserve Chair Jerome Powell, calling for interest rate cuts amid signs of a cooling labor market. But while rate cuts have been projected for months, the Fed hasn’t moved since December of 2024, and Powell doesn’t seem ready to cave just yet.

President Donald Trump sent the U.S. stock market on a jagged round trip Wednesday after saying he had "talked about the concept of firing" the head of the Federal Reserve. Such a move could help Wall Street get the lower interest rates it loves,

President Donald Trump sent the U.S. stock market on a jagged round trip Wednesday after saying he had “talked about the concept of firing” the head of the Federal Reserve.