US President Donald Trump called for U.S. interest rate cuts last night, despite inflation reaching a seven-month high.

New data revealed that inflation in the world’s largest economy climbed from 2.9% in December to 3% in January, the highest level since June.

The increase supports a cautious approach from the Federal Reserve.

However, Trump took to his Truth Social platform to push for rate cuts, stating, “Interest rates should be lowered, something which would go hand-in-hand with upcoming tariffs!

“Let’s rock and roll, America!”

Despite his call, the Fed is unlikely to act quickly.

Chairman Jerome Powell emphasized that there is no urgency to lower rates, citing economic strength and inflation risks.

“We just need to focus on doing our job and stay out of politics,” he said.

Analysts warned that Trump’s proposed tariffs could drive prices higher.

Paul Ashworth of Capital Economics noted, “With Trump threatening broad inflationary tariffs, the Fed is unlikely to resume rate cuts this year.”