In fact, there’s a long history of presidents putting pressure on Fed chiefs to cut interest rates. But President Trump’s public harangues to fire Jerome Powell are unprecedented and could create more difficulties.

President Donald Trump is badgering the Federal Reserve to cut interest rates, but even if the Fed gave in to the pressure, it wouldn't necessarily lead to lower borrowing costs for consumers. In fact,

President Donald Trump could be setting up Fed Chair Jerome Powell as a 'scapegoat' if a recession hits, according to an MSU economist.