One of Trump's top picks for Fed chair doubles down on rate cut demands
1. Fed Governor Waller advocates cutting rates to 3%, aligning with Trump's demands. 2. Current borrowing rate is 4.25% to 4.5%; Trump pressures for a drop to 1%. 3. Waller cites slowing consumer spending as reason for potential rate cut. 4. Trump's tariffs could temporarily impact inflation, but Waller urges ignoring their effects. 5. Tensions rise between Trump and Fed Chair Powell over monetary policy decisions.