Trump Criticizes Powell Over Fed's Steady Rates and Calls for Rate Cuts
TL;DR Summary
Former President Donald Trump criticized Federal Reserve Chair Jerome Powell for not cutting interest rates, claiming it is costing the U.S. billions, and called him 'destructive,' amid the Fed's decision to hold rates steady at 4.25%-4.5%. Trump has long pressured the Fed to lower rates and has expressed dissatisfaction with Powell's policies, even suggesting he could do a better job leading the Fed.
- Trump rips into 'too late' Jerome Powell after Fed holds rates steady CNBC
- Trump calls for the equivalent of 10 Fed rate cuts CNN
- Fed keeps rates steady but pencils in two cuts by end of 2025; Powell sees 'meaningful' inflation ahead Reuters
- Fed leaves interest rates unchanged, citing higher unemployment and inflation forecasts NBC News
- Trump rips Powell, suggests appointing himself to Fed The Hill
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