President Trump says Fed rate cuts would save the government as much as $900 billion a year in interest payments on its debt. Is that fight?

Federal Reserve Chair Jerome Powell said on Tuesday he would not rule out a potential interest rate cut as soon as this month. The remarks come amid a public pressure campaign from President Donald Trump, who has repeatedly urged Powell to slash interest rates.

Powell admitted this week that if it weren't for Trump's tariffs, the Fed would've likely lowered rates by now. "In effect, we went on hold when we saw the size of the tariffs and essentially all inflation forecasts for the U.