U.S. President Donald Trump reiterated his call for the Federal Reserve to push through a major rate cut in the wake of the release of new data Wednesday on consumer inflation. Trump called the May Consumer Price Index a “great” number and wrote on Truth Social that the “Fed should lower one full point.

Vice President JD Vance echoed President Donald Trump's calls for the U.S. central bank to lower interest rates, saying its refusal to do so is "monetary malpractice."

The Vice President said the Fed refusing to cut interest rates was "monetary malpractice," echoing sentiment voiced by Trump in recent months.