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Trump Backs Powell, Urges Rate Cuts Amid Trade Talks

5/5/2025

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Summary

Story summary

President Trump has assured that Federal Reserve Chairman Jerome Powell will remain in his position until at least 2026, despite facing criticism. He urged for interest rate cuts, suggesting Powell's hesitance stems from personal tensions. Meanwhile, Trump remains steadfast on his trade policies, hinting that a deal with China could be just around the corner.

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Story summary

President Trump has assured that Federal Reserve Chairman Jerome Powell will remain in his position until at least 2026, despite facing criticism. He urged for interest rate cuts, suggesting Powell's hesitance stems from personal tensions. Meanwhile, Trump remains steadfast on his trade policies, hinting that a deal with China could be just around the corner.