The Fed has always and should continue to be independent and not be subject to the whims of the POTUS. The Fed continues to do what it has always done in trying to control inflation.
Inflation is greatly back under control but is still running a bit high. One could argue reasonably that perhaps we shouldn't be raising rates, but I think it's a hard argument to make to lower rates. Lowering rates occurs when the economy is needing a boost and inflation is on the low side. I don't see the argument for an economy needing a boost nor on the lower inflation side.
If Trump wants lower rates, he should demand that Congress bring him a balance budget. This would raise confidence across the globe that we've got our fiscal house in order which would increase foreign investment in U.S. bonds. This will drive the price of bonds up and the interest on those bonds down. Lower the rate on the 10 year and mortgage rates will fall. Attract more foreign investment and the dollar will strengthen. This in turn will be deflationary to the price of imported goods.
The Fed is not the enemy, our spending is.
