Trump: "The U.S. Should Cut the Benchmark Rate by 2-3 Percentage Points"

On the 24th (local time), President Donald Trump urged, "The United States should lower its benchmark interest rate by at least 2-3 percentage points."

That day, President Trump stated on Truth Social, "While Europe has implemented 10 interest rate cuts, the United States has not lowered rates even once," adding, "Currently, the United States has no inflation and the economy is sound." He went on to say, "If rates are cut, the U.S. can save more than $800 billion per year."

President Trump further emphasized, "Jerome Powell, Chairman of the Fed, is expected to state the reason for refusing a rate cut today at the hearing," adding, "I hope Congress will keep him in check properly."