Trump urges Fed to cut rates as tariffs bring uncertainty

WASHINGTON — US President Donald Trump urged the Federal Reserve on Wednesday to cut interest rates to help offset the effects of his tariffs, renewing his vocal disagreement with the central bank's decision-making.

"Do the right thing," Trump demanded in a post on his Truth Social site, hours after the Fed decided to hold rates steady, while reducing its growth forecast and hiking its inflation outlook.

The Federal Reserve has penciled in two rate cuts this year, but chairman Jerome Powell noted that "uncertainty today is unusually elevated" and that inflation is ticking up.