Former President Donald Trump has renewed his call for Federal Reserve Chair Jerome Powell to immediately lower interest rates, citing recent economic growth as a compelling reason for action. Trump’s demand comes on the heels of a reported uptick in GDP, which he argues indicates the economy could benefit further from monetary easing.

The Federal Reserve, led by Powell, is set to announce its latest interest rate decision this week. Despite Trump’s ongoing public pressure, most analysts expect the central bank to keep rates steady for now, continuing a cautious “wait-and-see” stance in the face of persistent inflation concerns and global economic uncertainty.

Trump has been consistently vocal in his criticism of Powell’s leadership and the Fed’s current policy. He contends that higher rates are burdening the government with unnecessary interest costs on the national debt and hindering further economic expansion. In a recent visit to the Federal Reserve’s headquarters, Trump once again pressed his case, stating that lowering rates would enhance economic performance and relieve some of the financial pressures facing the government.

However, the Federal Reserve has maintained its independence, resisting political pressure and emphasizing that its decisions are guided by economic data rather than political demands. Powell has expressed concerns that lowering rates too soon could fuel inflation, especially in the context of ongoing global trade tensions and tariff policies that have complicated the economic outlook.

Most market forecasts currently show a strong likelihood that the Fed will hold rates steady in the immediate term. Investors and economists widely anticipate that policymakers will wait for clearer signals on inflation and economic momentum before making any adjustments.

As tensions rise between the former president and the central bank, market watchers will closely monitor the Fed’s upcoming statements for any hints of a policy shift or future rate cuts.