U.S. President Donald Trump and Fed Chairman Jerome Powell. AFP Yonhap News. 

On the 15th (local time), one day before the U.S. central bank, the Federal Reserve (Fed), holds its interest rate decision meeting, U.S. President Donald Trump urged Fed Chairman Jerome Powell to implement a significant cut in the benchmark interest rate.

Trump wrote on his social media platform, Truth Social, on the same day, "The 'Too Late' person must cut (the benchmark interest rate) now and by more than intended."

He added, "Housing prices will skyrocket."

"The 'Too Late' person" is an expression Trump has used to criticize Chairman Powell in a mocking tone.

Trump's remarks are drawing attention as they come ahead of the Federal Open Market Committee (FOMC) meeting, scheduled for the 16th-17th, where the Fed will decide its benchmark interest rate.

The U.S. financial market widely anticipates that the FOMC will cut the benchmark interest rate, currently at 4.25-4.50%, by 0.25 percentage points.

Trump's demand for a larger cut of 0.5 percentage points or more suggests he is warning that if interest rates are not lowered, U.S. housing prices will inevitably surge.

Previously, Trump argued that the U.S. benchmark interest rate is too high compared to other countries like Europe, and it should be lowered by more than 3-4 percentage points to set the benchmark rate in the 1% range.

However, there are also projections that it remains uncertain whether the Fed, with its dual goals of achieving maximum employment and maintaining inflation at 2%, will opt for a 'big cut' of 0.5 percentage points at once, given the potential for price increases due to Trump's tariff policies.

Yonhap News