US President Donald Trump has urged the Federal Reserve to cut interest rates, claiming it would be the "right thing" to do as US tariffs begin to ease their way into the economy.

"The Fed would be much better off cutting rates as tariffs start to transition," Trump said, emphasizing the need for swift action.

In a dramatic statement, he declared April 2 as "Liberation Day in America," hinting at a symbolic economic shift tied to his proposed policies. Trump's remarks add pressure on the Fed, which recently decided to keep rates unchanged.