Trump wants to replace Jerome Powell with a Fed chair who will do what he wants. But that still may not produce the steep cuts Wall Street is counting on.

By Michael S. Derby NEW YORK (Reuters) -Federal Reserve Governor Christopher Waller said on Thursday he continues to believe that the U.S. central bank should cut its interest rate target at the end of the month amid mounting risks to the economy and the strong likelihood that tariff-induced inflation will not drive a persistent rise in price pressures.

Right now, inflation is still hovering just above the Federal Reserve’s target and data is mixed. That’s why Fed Chair Jerome Powell is keeping rates steady, despite public calls for action