Trump Urges Federal Reserve Chairman to Reduce Interest Rates
(MENAFN) On Friday, U.S. Leader Donald Trump called on Federal Reserve Chairman Jerome Powell to reduce interest rates and criticized him for being “late” in taking action.
Trump expressed his opinion on Truth Social, stating, “This would be a PERFECT time for Fed Chairman Jerome Powell to cut Interest Rates.”
He further added, “He is always ‘late,’ but he could now change his image, and quickly.”
Trump highlighted recent improvements in various sectors, such as falling energy prices, lower inflation, reduced interest rates, a drop in egg prices, and an increase in employment over the past two months.
He emphasized, "A BIG WIN for America. CUT INTEREST RATES, JEROME, AND STOP PLAYING POLITICS!" in his call to the Federal Reserve to lower rates.
This demand for rate cuts came prior to Powell's comments on the impact of reciprocal tariffs. Powell noted that the tariffs were "larger than expected," and warned that increased tariffs would likely lead to higher inflation and slower economic growth.
Speaking at a conference in Virginia, Powell stated, "We have stressed that it will be very difficult to assess the likely economic effects of higher tariffs until there is greater certainty about the details, such as what will be tariffed, at what level and for what duration, and the extent of retaliation from our trading partners."
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.
Legal Disclaimer:
EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.
