Trump, who appointed Jerome Powell as Fed chair, has called for lower interest rates and said the president should get a say on the Fed's rate decisions.

In a post on Truth Social, President Donald Trump vowed to stop inflation himself with regulatory cuts, increasing energy production, and rebalancing trade. “If the Fed had spent less time on DEI, gender ideology,

The Fed said the job market is “solid,” and noted that the unemployment rate “has stabilized at a low level in recent months.”