President Trump told reporters Sunday that he expects a "big cut" to interest rates the Federal Reserve meets this week.

"It's perfect for cutting," he said. "We're doing well and everything — energy is way down, groceries are down, everything, almost everything — is way down."

The Federal Reserve's policy committee is scheduled to meet Tuesday and Wednesday to determine the latest interest rates, amid mounting political and economic pressure.

Economists have predicted a quarter-point interest rate cut, as concerns about a softening labor market take precedence over price pressures driven by steep tariffs.

Despite the president's insistence that the economy is booming, inflation — a key factor in interest rates — hasn't settled.

Labor Department data released last week revealed that i

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