The U.S. Federal Reserve quietly published a notification on its website showing it will hold a closed board meeting on Monday, April 7, at 11:30 a.m. EST to discuss “discount rates to be charged by the Federal Reserve Banks.”
The announcement caused rampant speculation, with many experts predicting an emergency rate cut or at least a lowering of rates later this year in the wake of President Donald Trump’s aggressive global tariffs which have resulted in an unprecedented market bloodbath.
The Fed rarely applies emergency cuts, which are categorized as “emergency” because they lie outside of its regular meeting cycle. The central bank reserves them exclusively for crisis situations, as with the most recent one on March 3, 2020 that was implemented to mitigate the negative economic effects of the Covid pandemic.
But with all major stock market indices in the red, and the entire crypto market down 5.54% because of a tariff approach that even conservatives are labeling “pretty crazy,” Trump himself was calling for the Fed to cut rates as recently as Monday morning, and perhaps the bank heeded the president’s advice.
(President Donald Trump calls for the Fed to cut rates / Donald Trump on Truth Social)
“The slow-moving Fed should cut rates,” Trump posted on Truth Social. “There is no inflation.” On Sunday, the president also said his tariff strategy will bring in “over a trillion dollars over the next short period of time.”
“We have hundreds of billions of dollars…pouring into our country on a monthly basis,” Trump explained. “It’s pouring, it’s already started because I put tariffs on.”
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