Trump presses Fed chair Jerome Powell for immediate US interest rate cuts

US President Donald Trump has renewed calls for the Federal Reserve, led by Jerome Powell, to convene a special meeting and cut interest rates immediately. He has argued for substantially lower rates to ease servicing of the $39 trillion US national debt and to support economic growth, housing, and the stock market. Futures markets, however, currently price in an overwhelmingly high probability that the Fed will hold rates steady in the 3.50% to 3.75% range at its March and April meetings.