Pressure Mounts Over Two Days as Trump Again Urges Fed to Cut Rates

On April 18 local time, U.S. President Trump delivered a speech at the White House, reiterating that Fed Chair Powell should lower interest rates. He also mentioned that it is very likely the U.S. will reach an agreement with Ukraine. Powell recently gave a speech at the Economic Club of Chicago, clearly asserting that he would not implement emergency rescue measures despite market fluctuations. Powell's statement was immediately met with strong criticism from President Trump. On the 17th, Trump again pressured Powell, suggesting that Powell could be removed immediately and demanding an immediate rate cut from the Fed.