Trump keeps pushing for US interest rates cuts amid favorable inflation data

The US President continues to confront the head of the Federal Reserve (Fed) over monetary policy. During its latest meeting, the central bank decided to keep interest rates unchanged, despite Donald Trump’s longstanding push for lower borrowing costs. Previously, the politicians’ disagreement almost led to Jerome Powell's early resignation as Fed chair. However, this issue was later resolved, Bloomberg reports.

The US President's frustration has grown again after the release of favorable month-on-month inflation data for April. Trump argues that slowing consumer price growth is a good reason to cut interest rates and insists on following the lead of Europe and China, where borrowing costs have already been reduced multiple times.

US price growth in April was just 0.2%, below experts' expectations for the third time in a row. Analysts have been factoring potential negative effects from US import tariffs into their inflation forecasts for months, Bloomberg explains. Meanwhile, most of them expect the Fed to cut interest rates no sooner than September.