INDIANA -The Federal Reserve held interest rates steady on Wednesday. Hicks says short-term, President Trump would like to lower interest rates, which could potentially make mortgages a bit lower, and reduce credit card bills in the short run. So, if the President had control of the Federal Reserve, he would probably. “Which is, ‘look, we're going to look at both interest rates and unemployment rates, and we're going to try to keep both of them low. “The Federal Reserve really wants to get ahead of price increases, because the worst-case scenario is high inflation and high unemployment.