#TrumpVsPowell

On Thursday, US President Donald Trump called Federal Reserve Chairman Jerome Powell "always TOO LATE AND WRONG" for failing to cut interest rates.

Trump has repeatedly urged Powell to cut interest rates, but the US central bank has adopted a wait-and-see attitude, holding rates steady at 4.25 to 4.5 percent since the start of this year.

The Republican has frequently criticized the Fed chairman, whom he originally nominated during his first term, accusing Powell of playing politics in his role running the independent central bank.

One of the main tools the Fed uses to carry out its twin purpose of controlling unemployment and inflation is setting key interest rates. While raising interest rates, or maintaining them at higher rates, can help control inflation, lowering them makes borrowing more affordable and tends to stimulate the economy by attracting investment. In March, the United States' annual consumer inflation rate dropped to 2.4 percent, approaching the Federal Reserve's long-term two percent target. According to official data, a 6.3 percent decline in fuel prices contributed to that decline.