As Trump badgers Fed to lower rates, it’s the bond market in need of convincing

Market Extra

Trump wants lower interest rates as two of his signature policy initiatives face looming deadlines

Last Updated: June 21, 2025 at 9:54 p.m. ET
First Published: June 21, 2025 at 7:00 a.m. ET

The bond market showed little appetite Friday for granting President Donald Trump’s wish for lower interest rates as two of his signature policy initiatives — tariffs and tax cuts — face looming deadlines.

The president blasted Federal Reserve Chair Jerome Powell in the holiday-shortened week for holding rates steady, posting on social media Thursday that the Fed’s wait-and-see approach was “costing our country hundreds of billions of dollars.”