President Donald Trump is ratcheting up pressure on the Federal Reserve to cut interest rates, accusing Fed Chair Jerome H. Powell of “playing politics” and of acting too slowly to respond to changes in the economy.

President Trump took to social media before the market open on Monday and called for the Fed to cut rates as markets tumble and some on Wall Street see the US economy tipping into recession this year.

Tariffs set to take effect this week risk stoking even higher inflation and slower growth than expected, complicating the central bank’s decisions on monetary policy.