US President Donald Trump has publicly pressured the Federal Reserve to cut interest rates immediately, calling for a “special meeting” to make it happen. He made the comments to reporters on Monday, March 16.
JUST IN: FED RATE CUT PRESSURE JUST HIT A BOILING POINT
President Trump is now openly calling for an emergency-style Fed move, saying rates should be cut “right now” and even suggesting a “special meeting.”
TRUMP: "What's a better time to cut interest rates than now? A 3rd… https://t.co/lqnggsz3ud pic.twitter.com/ntE1CKWIaH
— CryptosRus (@CryptosR_Us) March 16, 2026
“What’s a better time to cut interest rates than now? A third-grade student would know that,” Trump said, according to videos shared on X.
This follows a post on Truth Social on Thursday where Trump said Fed chair Jerome Powell “should be dropping interest rates, IMMEDIATELY.”
Trump has been pushing for lower rates since January. He called Powell “too late” and said high rates are “hurting our country, and its National Security.”
The president wants lower rates to reduce the cost of servicing the US national debt, which now stands at $39 trillion. He also argues lower rates would help the economy, housing, and the stock market.
Lower interest rates tend to push investors toward riskier assets. That includes both stocks and crypto, as cheaper borrowing means more money flows into speculative markets.
The Federal Reserve began its two-day March meeting on Tuesday. A rate decision is expected Wednesday.
Despite Trump’s pressure, CME futures markets show a 99% probability that rates will stay in the 3.50% to 3.75% range. The April 29 meeting shows a 97% chance of no change too.
US inflation held steady at 2.4% in February. However, it is expected to rise in March, according to Trading Economics. Rates have not changed since December.
The US-Iran conflict has caused a surge in oil prices. Higher oil means higher fuel and transport costs, which pushes up the price of goods and could increase inflation.
If inflation rises, the Fed may be pushed to raise rates rather than cut them. This puts the Fed in a difficult position as it monitors the conflict’s economic impact.
Jeff Mei, chief operating officer at crypto exchange BTSE, told Cointelegraph that traders have already priced in zero rate cuts for 2026.
Mei said the oil situation’s impact on inflation is “unclear at this point,” and that the Fed will likely “continue to wait out the situation.”
He added this should mean “less downward pressure on crypto asset prices” in the short term.
Trump’s pick to replace Powell, Kevin Warsh, is expected to take over in mid-May. Warsh is seen as more open to cutting rates than Powell.
For now, the Fed is expected to hold rates steady when it announces its decision on Wednesday, March 18.
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