Trump steps up pressure on Powell: US economy could slow down if interest rates are not cut immediately

U.S. President Donald Trump said that if Federal Reserve Chairman Jerome Powell does not cut interest rates immediately, the country's economy may slow down. Trump asserted on his social media platform on Monday: The drop in energy and daily necessities prices determines "almost no inflation." "But the economy may slow down unless 'Mr. Too Late' this big waste cuts interest rates now," Trump once again used a derogatory term to refer to Powell.