Donald Trump has warned Jay Powell not to cut US interest rates before November’s presidential vote, but said if elected he would let the Federal Reserve chair serve out his term if he was “doing the right thing”.
The Republican nominee acknowledged in an interview with Bloomberg News that the central bank would “maybe” cut interest rates before the election on November 5, but added “it’s something that they know they shouldn’t be doing”.
Trump also addressed mounting concerns in financial markets that he would politicise the Fed, starting with attempting to force Powell out before the end of his term as Fed chair in 2026.
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