US President Donald Trump used Twitter to pressure Federal Reserve Chairman Jerome Powell to cut interest rates, as the stock market continued its downward trend. In a post on Truth Social, Trump wrote: “CUT INTEREST RATES, JEROME, AND STOP PLAYING POLITICS!” He cited several positive economic indicators, including declining energy prices and inflation, and jobs increasing by 69% in two months.
The president’s directive to Powell came as the S&P 500 fell 5%, the Dow Jones Industrial Average lost 4.2%, and the Nasdaq composite dropped 5.5%. Trump had previously announced a significant increase in tariffs on China, which led to Beijing retaliating with its own tariffs.
Despite Wall Street’s negative reaction, Trump claimed that his tariff policy was going well. The Federal Reserve operates independently of the president, however.
Source: https://www.al.com/politics/2025/04/trump-pushes-fed-chairman-to-cut-interest-rates-in-all-caps-truth-social-tirade-stop-playing-politics.html