President Donald Trump on Thursday continued his extraordinary and targeted verbal attacks on Federal Reserve Chair Jerome Powell, calling for a massive 2.5-point reduction in interest rates.

The Federal Open Market Committee this week opted to hold rates steady in a range of 4.25-4.5 per cent for the fourth consecutive meeting, even as Trump piles pressure on Powell, whose term as Fed chair expires in May 2026, to slash them.

Policy makers signalled borrowing costs are still likely to fall this year, but slowed the overall pace of expected future rate cuts