Trump praises "low" inflation data, doubles down on rate cut demands
US President Donald Trump says inflation in the country is low enough for Fed chair Jerome Powell to deliver "a big, beautiful cut" to interest rates. US consumer prices rose 2.7% in December, still significantly above the Federal Reserve's 2% target. Meanwhile, the heads of global central banks came together in support of Powell, after the Justice Department's criminal investigation against him raised concern over the Fed's independence.
