On Wednesday, Trump seized on a report showing the economy expanded at a 3% annual rate in the second quarter as evidence that growth is accelerating and called on Powell to cut rates. Yet the Fed typically reduces borrowing costs when the economy is faltering and threatening to send unemployment higher.

The Federal Reserve is expected to leave interest rates unchanged on Wednesday, six days after President Donald Trump again demanded that the U.S. central bank cut borrowing costs during a rare presidential visit to its headquarters in Washington.

Today, the Federal Reserve is meeting to discuss interest rates. The meeting comes as Fed Chair Jerome Powell faces mounting pressure from President Trump to cut rates. Financial Times Columnist Gillian Tett joins Ana Cabrera to share her insights.