Voters elected Trump to find a way to curb the hotter inflation that occurred under President Joe Biden. But the president has also sought to impose tariffs to extract concessions and raise revenues on the belief — which many economists dispute — that America’s yawning trade deficit is a sign of weakness.

Trump again switched positions on the Fed, indicating in a social media post Wednesday that interest rates need to come down.

President Donald Trump on Wednesday said that interest rates should be lowered and that would go "hand in hand" with his upcoming tariffs, despite economists' expectations that tariffs would fuel inflation and postpone rate cuts.