Seems Powell is having an alpha male competition with Trump. He doesn’t think rates need lowering, Trump does. We will see who blinks first but I read Trump is exploring possibilities to relieve Powell from his duties. Historically the FED always seems to act too late. I think Powell should cut rates, it will make life cheaper for Americans.
As much as Trump wants to fire Powell, I don't think he can do it. At least, not legally. Only Congress can. But with Republicans holding a slim majority on both chambers (House + Senate), anything's possible. It's ironic how the ECB keeps cutting rates, while the FED has taken a more "cautious approach". If it keeps up, the US will be heading towards "stagflation".
All in all, I believe Trump's "Reciprocal Tariffs" could make matters worse in the long run. There's a 90-day pause in effect, but no one knows what will happen afterwards. Either Trump continues what he started, or backs down. If he decides to resume tariffs, the FED should cut rates to help weaken the USD (for cheaper imports). Cutting too much will put inflation out of control, imo. I'm really no expert in Economics, anyways (someone correct me if I'm wrong). The global economy is headed into uncertainty, so we can only hope for the best.