President Donald Trump is badgering the Federal Reserve to cut interest rates, but even if the Fed gave in to the pressure, it wouldn’t necessarily lead to lower borrowing costs for consumers.

President Trump on Wednesday said he might call Federal Reserve chair Jerome Powell to press for an interest rate cut. Why it matters: Financial markets slumped when they feared Trump might fire Powell and threaten the Fed's independence,

President Donald Trump could be setting up Fed Chair Jerome Powell as a 'scapegoat' if a recession hits, according to an MSU economist.