President Donald Trump is badgering the Federal Reserve to cut interest rates, but even if the Fed gave in to the pressure, it wouldn’t necessarily lead to lower borrowing costs for consumers.

(Reuters) - President Donald Trump on Monday kept up his verbal assault on Federal Reserve Chair Jerome Powell over the Fed's refusal for now to further cut interest rates, rattling financial markets growing ever more fearful that Trump may ultimately try to fire the U.S. central bank chief over the matter.

Now, the markets are anticipating that President Trump is putting pressure on Chairman Powell to cut interest rates, even if the Fed doesn’t think it’s the right time to do so. But why is that the case and can he pressure the Fed Chair to take action?