Trump expects ‘big’ interest rate cut this week

10:31 AM (Mecca time) Argaam
US PresidentDonald Trump

US President Donald Trump

US President Donald Trump predicted a “big cut” at the Federal Reserve’s meeting this week, despite a widely expected 25-basis-point reduction.
 
“I think you have a big cut,” Bloomberg reported Trump telling reporters on Sunday.
 
The Fed is likely to deliver its first interest rate cut in nine months when it concludes its two-day policy meeting starting tomorrow amid pressure from Trump following his return to the White House.
 
The latest economic indicators suggest a rate cut is warranted due to a cooling labor market and inflation exceeding the Fed’s 2% target.

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