President Trump is urging the Federal Reserve to lower interest rates. Last week, the Fed left interest rates unchanged. Even though the Federal Reserve is an independent agency, that didn’t stop the president from pressuring policymakers. He wrote on social media that the Fed should, quote, “do the right thing and lower interest rates.” Chairman Jerome Powell said the Fed now expects the economy to grow more slowly the next two years, and that the looming Trump tariffs likely will lead to higher inflation.