President Donald Trump also urged the Fed to go for a full 100 basis points rate cut, given that inflation is under control.

United States Vice President JD Vance slammed the Federal Reserve for not cutting interest rates despite positive economic data.

In his post on X, Vance called the central bank's refusal to lower interest rates a monetary malpractice.

“The president has been saying this for a while, but it's even more clear: the refusal by the Fed to cut rates is monetary malpractice,” he wrote on X.

JD Vance's post on X on Wednesday morning.

Meanwhile, President Donald Trump also urged the Fed to go for a full 100 basis points rate cut, given that the inflation is under control.

“CPI JUST OUT. GREAT NUMBERS! FED SHOULD LOWER ONE FULL POINT. WOULD PAY MUCH LESS INTEREST ON DEBT COMING DUE. SO IMPORTANT!!!” he wrote on Truth Social.

Donald Trump's post on Truth Social on Wednesday morning.

U.S. consumer prices rose slower than expected in May amid increasing economic uncertainty due to President Donald Trump’s tariff war.

According to data from the Bureau of Labor Statistics (BLS), the consumer price index (CPI) rose 0.1% in May on a seasonally adjusted basis, following a similar rise in April. On an annual basis, CPI rose 2.4% before the seasonal adjustment.

The monthly reading came in lower than the estimated 0.2%, while the annual figure was in line.

Core CPI, which excludes food and energy, rose 0.1% in May, after a 0.2% increase in March. This was lower than an estimated 0.3% increase, according to a Bloomberg report.

Trump has been pressuring the Fed and criticizing Chair Jerome Powell for not easing monetary policy at a time when Europe has already done so multiple times.

In his recent posts on Truth Social, Trump has highlighted the cost of servicing the U.S. debt due in the coming years and said a rate cut would help manage it better.

On Wednesday morning, Trump also cheered the United States’ deal with China and said the relationship between the two countries is excellent.

“FULL MAGNETS, AND ANY NECESSARY RARE EARTHS, WILL BE SUPPLIED, UP FRONT, BY CHINA. LIKEWISE, WE WILL PROVIDE TO CHINA WHAT WAS AGREED TO, INCLUDING CHINESE STUDENTS USING OUR COLLEGES AND UNIVERSITIES (WHICH HAS ALWAYS BEEN GOOD WITH ME!),” Trump said in his Truth Social post.

Benchmark U.S. indices traded in the green following the announcement. The SPDR S&P 500 ETF Trust (SPY), which tracks the S&P 500, traded 0.15% higher, while the Invesco QQQ Trust, Series 1 (QQQ), which tracks the Nasdaq Composite, was up 0.22%.

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