The announcement emphasized that the reason for the decision is the economic slowdown, including in a smaller number of jobs created. At the same time, the Fed noted that inflation remains increased.
Donald Trump has long demanded from the Fed a reduction in interest rates – and finally he lived, but along the way, the US president managed to clean up the Fed head, Jerom Powell, heavily. In April, for example, Trump called 72-year-old Powell “loser” because he refused to lower his feet. On the social platform, Truth Social later wrote that Powell is “Lord late” and if he did not take immediate action, economic growth will be slowed down. At the end of July 2025, in turn, Trump discredited him during a visit to the construction site broadcast on television. He blamed Powell for exceeding the budget. The head of the Fed retorted that Trump made a mistake in calculations.
10 out of 11 Fed members were in favor of cutting interest rates with 25 base points. The only different voice was Stephen I. Miran – recently appointed to the Committee of the nomination of President Donald Trump. He was in favor of a larger reduction, 50 base points.
