NPR.

This is the indicator from planet money. I'm Paddy Hirsch.

And I'm Adrienne Ma.

It's an exciting week for the indicator because we find out tomorrow how much the Federal

Reserve will cut interest rates. And while it looks like there will be a cut, it's not clear just how deep

that cut will be. Now, the smart money, the analysts and Wall Street types, they're predicting

maybe a quarter of a percentage point cut, or maybe a half a percentage point.

Well, who knows, but however deep the Fed goes, it probably won't be deep enough for President

Trump. On his social media platform, Truth Social a couple of months ago, Trump wrote,

Fed should cut rates by three points. Very low inflation, one trillion dollars a year would be saved.

Were there any exclamation points there?

Oh, yes.

Three.

Three exclamation points for, I guess, a requested three percentage point reduction.

Or maybe if you want to be fancy about it, call it 300 basis points.

We're fancy.

And, you know, a cut of that size would

take the Fed funds rate from 4.5% today to just 1.5%. That would be a massive cut. Massive indeed.

So on today's show, we'll look at what might happen if the President got his way and the Fed did

indeed cut rates by three percentage points.

What would that do to inflation?

To mortgage rates, would it save a trillion dollars a year, as Mr. Trump claims?

...