President Trump is hilarious. After manufacturing this economic crisis himself, he calls on Fed Chair Powell to immediately cut interest rates. Powell pushed back against Trump in his speech today, dashing hopes of an immediate rate cut: “Our obligation is to keep longer-term inflation expectations well anchored and to make certain that a one-time increase in the price level does not become an ongoing inflation problem,” he said. “We are well positioned to wait for greater clarity before considering any adjustments to our policy stance.”