Trump on Saturday said in a social media post the U.S. Federal Reserve should cut rates "sooner, rather than later."

The Federal Reserve will look to reduce its headcount by 10% over the next couple of years, including offering deferred resignation to some older employees, central bank chair Jerome Powell said in a memo.

Jerome Powell has told the Federal Reserve to start cutting jobs. In a memo obtained by Bloomberg, Powell said the central bank will lower its workforce by 10% over the next two years. That would mean reducing its nearly 24,