The Blubber

President Donald Trump has called on the Federal Reserve to cut interest rates as financial markets continue to decline, insisting that inflation is not an issue. The next meeting of the Federal Open Market Committee (FOMC) is scheduled for May 6–7.

Posting on his Truth Social account Monday, Trump wrote, “USA is bringing billions of dollars a week.”

He continued, “Oil prices are down, interest rates are down (the slow moving Fed should cut rates!), food prices are down, there is NO INFLATION, and the long time abused USA is bringing in Billions of Dollars a week from the abusing countries on Tariffs that are already in place.”

Trump also lashed out at China, referencing the country’s move to increase tariffs by 34% in retaliation. “This is despite the fact that the biggest abuser of them all, China, whose markets are crashing, just raised its Tariffs by 34%, on top of its long term ridiculously high Tariffs (Plus!), not acknowledging my warning for abusing countries not to retaliate,” he wrote.

“They've made enough, for decades, taking advantage of the Good OL' USA! Our past 'leaders' are to blame for allowing this, and so much else, to happen to our Country,” Trump added.

On Friday, U.S. markets saw a sharp sell-off, with the S&P 500 falling 5.97%, the Nasdaq Composite dropping 5.82%, and the Dow Jones Industrial Average declining 5.50%.