Trump reiterates no intention to replace Powell but urges the Federal Reserve to cut interest rates again

U.S. President Donald Trump reiterated his intention not to replace Federal Reserve Chairman Jerome Powell, despite having previously stated he would nominate a new chairman. Trump criticized the Federal Reserve's slow rate-cutting actions during an event at the White House, stating that high interest rates are driving up government borrowing costs. He indicated that the Federal Reserve could raise rates at any time if inflation rebounds. The Supreme Court ruled that the Federal Reserve's senior officials are not subject to the president's removal authority, providing legal protection for Powell's term. The Federal Reserve's policy meeting next week is expected to keep interest rates unchanged