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President Donald Trump blasted the Federal Reserve on Wednesday after it did not cut interest rates.
The president shared the words in a post to his Truth Social account while noting upcoming tariffs.
“The Fed would be MUCH better off CUTTING RATES as U.S. Tariffs start to transition (ease!) their way into the economy. Do the right thing. April 2nd is Liberation Day in America!!!” Trump wrote.
Lowered interest rates would have a significant impact on financial and housing markets, key areas Trump seeks to improve in his early weeks in the White House.
Trump’s tariffs, part of his plans of a “Liberation Day” on April 2, involve increased charges on goods from Canada and Mexico, currently scheduled at 25 percent. Earlier efforts to implement tariffs have been delayed after concessions by leaders from both nations to secure the border and stop the flow of drugs at the start of February.
Trump first shared the news of the delays with Mexico which included the southern neighbor committing to supplying 10,000 soldiers along the border.
“I just spoke with President Claudia Sheinbaum of Mexico. It was a very friendly conversation wherein she agreed to immediately supply 10,000 Mexican Soldiers on the Border separating Mexico and the United States. These soldiers will be specifically designated to stop the flow of fentanyl, and illegal migrants into our Country,” Trump posted to Truth Social previously.
“We further agreed to immediately pause the anticipated tariffs for a one month period during which we will have negotiations headed by Secretary of State Marco Rubio, Secretary of Treasury Scott Bessent, and Secretary of Commerce Howard Lutnick, and high-level Representatives of Mexico. I look forward to participating in those negotiations, with President Sheinbaum, as we attempt to achieve a “deal” between our two Countries,” he added.
Trump later released a second statement explaining his decision to delay tariffs for Canada.
“Canada has agreed to ensure we have a secure Northern Border, and to finally end the deadly scourge of drugs like Fentanyl that have been pouring into our Country, killing hundreds of thousands of Americans, while destroying their families and communities all across our Country,” Trump wrote.
“Canada will implement their $1.3 Billion Border plan, and as per Prime Minister Trudeau, will be, “reinforcing the Border with new choppers, technology and personnel, enhanced coordination with our American partners, and increased resources to stop the flow of fentanyl. Nearly 10,000 frontline personnel are, and will be, working on protecting the Border,” the statement continued.
