Fabio Amaya
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Powell says that the Fed would have cut rates this year if it weren't for Trump.
The Federal Reserve has not lowered interest rates so far this year: central bank officials generally expect that Trump's tariffs will have some effect on the U.S. economy and have said they want to see how the situation settles first before resuming rate cuts.
But the Fed's wait-and-see attitude has not sat well with Trump, who has repeatedly criticized Powell for not lowering rates yet, describing him as a "fool" and an "idiot."
On Monday, Trump posted a handwritten note on his social media criticizing Powell harshly for keeping interest rates higher than those of dozens of other countries, stating that it had "cost the United States a fortune" and that he continues to "do so." White House Press Secretary Karoline Leavitt stated that the note was delivered to the Federal Reserve that same day.
In his panel in Sintra, Powell noted that most Fed officials expect to lower rates by the end of this year, depending on the evolution of inflation and the labor market.
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The Federal Reserve has not lowered interest rates so far this year: central bank officials generally expect that Trump's tariffs will have some effect on the U.S. economy and have said they want to see how the situation settles first before resuming rate cuts.
But the Fed's wait-and-see attitude has not sat well with Trump, who has repeatedly criticized Powell for not lowering rates yet, describing him as a "fool" and an "idiot."
On Monday, Trump posted a handwritten note on his social media criticizing Powell harshly for keeping interest rates higher than those of dozens of other countries, stating that it had "cost the United States a fortune" and that he continues to "do so." White House Press Secretary Karoline Leavitt stated that the note was delivered to the Federal Reserve that same day.
In his panel in Sintra, Powell noted that most Fed officials expect to lower rates by the end of this year, depending on the evolution of inflation and the labor market.
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