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“Powell’s Not Doing a Good Job”: Trump Pushes for Rate Cuts as Treasury Secretary Cites Market Signals

Treasury Secretary Scott Bessent stated that the bond market is signaling the Federal Reserve should cut interest rates, pointing to two-year Treasury rates falling below the Fed’s benchmark rate.

While traders don’t expect a rate cut at the May meeting, they anticipate cuts beginning in June.

President Trump has repeatedly criticized Fed Chairman Jerome Powell and called for lower interest rates, despite recently claiming he has “no intention” of firing Powell.

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