Trump calls on Powell to cut interest rates by at least 2 to 3 percentage points According to Jin Shi, US President Trump posted on his social media platform "Real Social" that "it's too late, Mr." Federal Reserve Chairman Jerome Powell will explain in Congress today why he refuses to lower interest rates. Europe has already cut interest rates 10 times, while we have zero. Without inflation, the economy is thriving - we should at least reduce it by 2 to 3 percentage points. It will save the United States $800 billion annually.