Deepa Shivaram

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So for much of his second term, President Trump has been pressuring the Federal Reserve and its chairman, Jerome Powell, to lower interest rates, which he thinks would help juice the economy.

But the administration really ramped up that pressure this past weekend.

Scott, can you tell us about that?

Yeah.

I do feel like with a situation like this, though, it is like it becomes very quickly like a he said, she said situation.

And I feel like, Scott, I do want to just take a second and zero on the actual accusation.

Like, do independent observers think there could be anything to this investigation?

Sounds like my house, honestly.

I'm like, we found asbestos, we're trying to put in air conditioning.

It happens.

What's been the reaction more broadly to this news over the last couple of days?

And to the point of who's going to kind of win in this push and pull, I will say also that arguments are coming up in the next week or so at the Supreme Court over whether Trump has the authority to fire a member of the Federal Reserve, right?

Lisa Cook.

So that is going to be something we're obviously going to be watching as we get a sense of who's going to win this battle.

But Scott, I also want to back up because this is one of those times where I have you here.

And this is a question, a very basic economic question that I've had a lot last couple months, honestly, as this has been going back and forth.

President Trump

once lower interest rates, but he campaigned on the kind of runaway inflation of the post-COVID time.