Again urging the Federal Reserve to cut interest rates, Trump says Powell is about to resign
On the 22nd local time, U.S. President Trump stated that Federal Reserve Chairman Powell is about to resign.
Trump claimed that current interest rates are too high, which is affecting the housing market. He stated that interest rates should be lowered by 3 percentage points, or even more.
Since the beginning of this year, Trump has repeatedly criticized Powell and threatened to remove him from the position of Federal Reserve Chairman, in an attempt to pressure the Federal Reserve to cut interest rates. Recently, the Trump administration has also frequently mentioned that the Federal Reserve spent $2.5 billion renovating its office building and that there were “cost overruns,” further pressuring Powell.