Trump Blasts Fed Chair Powell as “Numbskull,” Demands 2% Rate Cut 💥
Former President Donald Trump isn’t holding back. In a fiery speech at the White House, Trump called Federal Reserve Chair Jerome Powell a “numbskull,” slamming him for refusing to cut interest rates.
📉 Trump’s Demand: A 2% Rate Cut
Trump claims slashing rates by 2 percentage points could save the U.S. $600 billion annually. “We can’t get this guy to do it,” he said in frustration, adding,
“We're going to spend $600 billion a year because of one numbskull who says, ‘I don’t see enough reason to cut rates now.’”
📰 Why Now?
Trump’s comments followed a soft inflation report, with producer prices in May rising slower than expected—fueling his argument that high rates are unnecessary.
💣 White House Joins the Pressure Campaign
Commerce Secretary Howard Lutnick and VP JD Vance echoed Trump’s sentiment:
Lutnick: “Inflation is low. He’s got to do his job soon.”
Vance: “The refusal by the Fed to cut rates is monetary malpractice.”
📊 Market Reaction
Markets stayed calm short-term, but the odds of a September rate cut jumped from 69% to 76% following the coordinated messaging blitz.
🧑⚖️ Trump’s Nickname Game & Firing Talk
Trump now dubs Powell “Too Late,” criticizing his timing on rate moves. While he said he won’t fire Powell before his term ends in 2026, he added,
“I don’t know why it would be so bad.”
Powell, protected by law and backed by a recent Supreme Court ruling, hasn’t publicly responded—yet remains in the political crosshairs.
⚖️ Conclusion:
Trump may not be pulling the trigger, but he’s certainly pulling public pressure. Powell might be safe legally, but politically, he’s walking a tightrope.
🪙 *PS: If this gave you more clarity than Powell’s pressers, consider tipping your local content wizard (me) with a like. It’s cheaper than a rate
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