In fact, there’s a long history of presidents putting pressure on Fed chiefs to cut interest rates. But President Trump’s public harangues to fire Jerome Powell are unprecedented and could create more difficulties.

Jerome Powell’s determination to ensure any jump in prices stemming from Donald Trump’s tariffs don’t spread through the economy has earned him the moniker “Mr. Too Late” from the president. For the Federal Reserve chair,

President Donald Trump is badgering the Federal Reserve to cut interest rates, but even if the Fed gave in to the pressure, it wouldn’t necessarily lead to lower borrowing costs for consumers.