Muhammed Yasin Güngör
12 February 2025•Update: 12 February 2025
ISTANBUL
US President Donald Trump urged lower interest rates on Wednesday, linking the move to "upcoming" tariffs.
“Interest Rates should be lowered, something which would go hand in hand with upcoming Tariffs," he wrote on Truth Social.
Trump has repeatedly criticized the Federal Reserve and its chair, Jerome Powell, for failing to effectively address inflation. He has vowed to pressure the Fed to “drop rates immediately” upon returning to office.
The Fed held rates steady between 4.25% to 4.50% in January after three consecutive cuts in 2024.
Trump, meanwhile, imposed 25% tariffs on steel and aluminum imports. He also imposed 25% tariffs on Canada and Mexico, and an additional 10% on Chinese goods. Tariffs on Canada and Mexico were paused for 30 days.
