Trump and Vance join forces to pressure the Federal Reserve to cut interest rates, Trump: Cut rates by one percentage point!

On Wednesday, former President Trump posted on his social media platform "Truth Social" that the latest data on the U.S. Consumer Price Index (CPI) is promising, and he called for the Federal Reserve to lower interest rates by one percentage point. Trump stated that this would save the U.S. a significant amount on upcoming debt interest payments. He emphasized, "This is very important."Last Friday, Trump also posted on social media that the Federal Reserve's "Mr. Too Late" is a disaster. Europe has cut interest rates 10 times, while the U.S. has not done so even once. Trump claimed that Federal Reserve Chairman Jerome Powell should lower interest rates by a full percentage point.On the same day, U.S. Vice President Vance echoed Trump's stance, joining in the pressure on the Federal Reserve to lower rates. Vance called on the Federal Reserve to ease monetary policy on X, stating that the latest inflation data shows that current tariffs have not yet caused significant upward pressure on inflation:The President has said this for a long time, but it is clearer now: the Federal Reserve's refusal to cut rates is a dereliction of duty in monetary policy.Trump and Vance's statements came after the U.S. Bureau of Labor Statistics released the significant CPI data for May. The data showed that the Consumer Price Index (CPI) rose only 0.1% month-on-month in May, and the core CPI, excluding food and energy, also increased by just 0.1%. On an annualized basis, the overall CPI is 2.4%, and the core CPI is 2.8%, still above the Federal Reserve's target of 2%.The last time the Federal Reserve cut rates was in December of last year, and recent officials have expressed concerns about the impact of tariffs on future prices. The Federal Reserve will announce its interest rate decision next week, and the market generally expects the Federal Reserve to hold steady at this meeting. According to CME Group data, traders expect the Federal Reserve to cut rates in September.Currently, the market is closely watching the candidates for the next Federal Reserve Chair. Billionaire investor Paul Tudor Jones stated that Trump is likely to appoint a "very dovish" Federal Reserve Chair to align with his policy direction aimed at promoting economic growth