President Donald Trump is ratcheting up pressure on the Federal Reserve to cut interest rates, accusing Fed Chair Jerome H. Powell of “playing politics” and of acting too slowly to respond to changes in the economy.

Traders boosted bets on Tuesday the Federal Reserve will start cutting its policy rate as soon as next month, as the White House said additional tariffs on imports from China will go into effect on Wednesday in a further escalation of trade hostilities that could slow the economy.

President Trump took to social media before the market open on Monday and called for the Fed to cut rates as markets tumble and some on Wall Street see the US economy tipping into recession this year.

In the early days of the Great Depression, Rep. Willis Hawley, a Republican from Oregon, and Utah Republican Sen. Reed Smoot thought they had landed on a way to protect American farmers and manufactur

The president said he would not quickly reverse last week’s steep tariffs, which have sparked pushback and roiled markets.

It’s time for Wall Street to get a grip. The Trump tariff policies are a calculated gamble that the threat of tariffs can fundamentally remake the global economy and retilt it in the direction of the United States — and away from China and other beggar-thy-neighbor countries.