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Trump Slams Fed Chair Powell, Urges Immediate Rate Cuts
Former U.S. President Donald Trump has once again criticized Federal Reserve Chair Jerome Powell on Truth Social, demanding aggressive interest rate cuts. Trump argued that lowering rates by 1-2 percentage points could save the U.S. up to $1 trillion annually in debt costs.
He accused Powell of being too slow to act, dubbing him "Mr. Too Late," and questioned why the Fed refuses to cut rates despite low inflation. Trump also hinted at replacing Powell but noted no immediate action since Powellโs term ends in 2026.
The Fed, however, held rates steady at 4.25%-4.50% in its June meeting, citing data-driven decisions over political pressure. Market expectations for rate cuts have been pushed to late 2025 due to inflation risks from tariffs and oil price shocks. Trump plans to announce his Fed chair pick soon, adding uncertainty to future monetary policy.
Former U.S. President Donald Trump has once again criticized Federal Reserve Chair Jerome Powell on Truth Social, demanding aggressive interest rate cuts. Trump argued that lowering rates by 1-2 percentage points could save the U.S. up to $1 trillion annually in debt costs.
He accused Powell of being too slow to act, dubbing him "Mr. Too Late," and questioned why the Fed refuses to cut rates despite low inflation. Trump also hinted at replacing Powell but noted no immediate action since Powellโs term ends in 2026.
The Fed, however, held rates steady at 4.25%-4.50% in its June meeting, citing data-driven decisions over political pressure. Market expectations for rate cuts have been pushed to late 2025 due to inflation risks from tariffs and oil price shocks. Trump plans to announce his Fed chair pick soon, adding uncertainty to future monetary policy.
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