President Trump posted a meme on Saturday of him telling Federal Reserve Chair Jerome Powell "You're Fired!," a move that he’s been hinting at for months due to the central bank’s refusal to significantly lower interest rates. Earlier this month, the Fed cut rates for the first time this year and signaled that future cuts could be made in October and December, respectively.

“Near-term risks to inflation are tilted to the upside and risks to employment to the downside – a challenging situation,” Powell said in August.

The Fed chief has been weary to drive down interest rates due to tariff uncertainty as trade agreements are still being negotiated by the White House. Several countries have agreed to stable rates and Trump administration officials have said additional deals are forthcoming.

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