President Trump says Fed rate cuts would save the government as much as $900 billion a year in interest payments on its debt. Is that fight?

Federal Reserve Chair Jerome Powell said on Tuesday he would not rule out a potential interest rate cut as soon as this month. The remarks come amid a public pressure campaign from President Donald Trump, who has repeatedly urged Powell to slash interest rates.

Amid a battle with the president, who has been pressuring the Fed to cut interest rates, Powell said they had to re-evaluate their plans for interest rates once inflation forecasts went up after April’s so-called “Liberation Day” tariffs.