If President Donald Trump is successful in pushing the Federal Reserve to cut interest rates, it could reduce confidence in the U.S. economy and result in mortgage rates rising, according to one economic analyst.

The European Central Bank reduced its benchmark lending rate for the seventh time since it started lowering borrowing costs in June.

President Donald Trump called on the Federal Reserve's “too late” chair Jerome Powell to lower interest rates now. "Powell’s termination cannot come fast enough!" he remarked on the Truth Social platform.