President Trump once again called for an interest rate cut, stating that the Federal Reserve is moving too slowly on the matter. Trump emphasized that the U.S. makes billions of dollars per week from customs duties and criticized China for raising already high tariffs to ridiculous levels. Regarding the market downturn, Trump mentioned, “I don’t want anything to go wrong, but sometimes you need to take medicine to fix something.” The markets were shaken after Trump’s tariff announcements, witnessing record drops in risky assets like stocks and cryptocurrencies.

Meanwhile, investors have priced in an increased risk of recession due to the tariffs, expecting the Fed to cut rates starting from May. Expectations for five interest rate cuts of 25 basis points each have risen in the U.S. this year.