Trump warns of economic slowdown unless Fed cuts rates

"With these costs trending so nicely downward, just what I predicted they would do, there can almost be no inflation, but there can be a SLOWING of the economy unless Mr. Too Late, a major loser, lowers interest rates, NOW," Trump said in a post on Truth Social. U.S. stocks, which opened lower on Monday on investor worries about Trump's escalating attacks on Powell, slid further after the president's social media post. The Fed's wait-and-see approach on interest rates has angered Trump.