Trump keeps pushing for Fed rate cut after recent data

US President Donald Trump

US President Donald Trump again urged the Federal Reserve to cut interest rates immediately, following stronger-than-expected economic growth in Q2 2025.

In a Truth Social post today, July 30, Trump said: “2Q GDP JUST OUT: 3%, WAY BETTER THAN EXPECTED! ‘Too Late’ MUST NOW LOWER THE RATE. No Inflation! Let people buy, and refinance, their homes!"

This came after the Bureau of Economic Analysis reported a 3% annualized GDP growth for April-June, beating market expectations.

Economists attributed the recent US gross domestic product (GDP) to a steep drop in imports, which artificially inflated growth. Nevertheless, domestic demand rose by 1.2%, its weakest pace since late 2022, Reuters reported.

Although the administration announced several trade deals, around 60% of imports remain under tariffs, keeping duties near historic highs.

Despite Trump’s pressure, the Fed is expected to keep rates steady between 4.25% and 4.50% at its July policy meeting.