(Reuters) -U.S. President Donald Trump on Wednesday appeared to suggest he knew more about interest rates than Federal Reserve Chairman Jerome Powell and that rates should be cut. "Mortgage rates are actually down slightly even though I have a guy in the Fed that I'm not a huge fan of," Trump said at a White House event.

Powell, appointed as Fed chair by Trump during his first term, fell out of favor with the president after stating he would wait for more clarity on the effects of the administration's broad tariffs before adjusting interest rates.