WASHINGTON—President Trump said he is considering measures to bolster the economy, including a possible reduction in capital-gains taxes, and continued to press the Federal Reserve to cut interest rates even as he played down warning signs of a possible slowdown.

“We’re looking at various tax reductions,” Mr. Trump told reporters at the White House on Tuesday. “But I’m looking at that all the time anyway.” He added: “We’re very far from a recession.”

With...