White House pressure grows as Fed cuts rates
Al Jazeera · Just In
Al Jazeera
Just In
The Federal Reserve cut interest rates as the U.S. economy slows, intensifying tensions between the White House and Fed Chair Jerome Powell.
Breakdown
- Fed cuts interest rates by 0.25% to address unemployment concerns
- Chairman Powell says future rate changes will depend on economic data 10s
- President Trump criticizes the cut as too small and wants larger reductions 34s
- Powell to step down in May; Trump expects next chair to cut rates aggressively 58s
- Fed rate decisions require committee consensus, not just the chair's approval 1m 16s