The US Dollar has slipped to more than a 3-year low as Donald Trump has doubled down on his calls for lower interest rates, criticising Fed Chairman Jerome Powell in the process.
Speculation that Trump is also looking to name Powell's successor much earlier than usual, according to a Wall Street journal has also damaged The Dollar. Keeping with Interest Rates, bets have ramped up for an interest rate cut as early as next month.
Donald Trump is sticking with his strong belief that The U.S interest rates need to be at least two to three points lower than where they currently sit, stating that higher rates will only lead to further economic damage. As we know, Powell is reluctant to cut rates as quickly and aggressively, pointing to the potential inflation risks off the back of Trump's Tariffs which is still fairly uncertain.
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