AdvertisementBusinessThe economyFederal Reserve Opinion Trump will be seeing red as the Fed refuses to bow down Stephen Bartholomeusz Senior business columnist January 29, 2026 — 8:56amJanuary 29, 2026 — 8:56am Save You have reached your maximum number of saved items. On Wednesday, it didn’t do anything, and didn’t signal that it would do anything, which isn’t what Donald Trump wanted to hear. Donald Trump has said, very loudly and frequently, that he wants much lower interest rates to turbocharge US growth. Powell could, even without the title, be a focus of opposition to the big rate cuts Trump is demanding. Fed chair Jerome Powell has been a target of Trump over the central bank’s failure to aggressively cut interest rates.