US President Donald Trump continues to pressure Fed Chairman Jerome Powell to cut interest rates.
Trump slammed Powell in a handwritten note shared on the Truth Social platform on Monday, saying interest rates should be lowered “significantly.”
Trump tweeted, “Powell and the Fed Board should be ashamed. They have one of the easiest yet most prestigious jobs in America and they have failed, and continue to fail.”
The image added to the post included a message Trump wrote with a Sharpie pen on a table showing central bank interest rates in different countries:
“Jerome – As usual, you are too late. You have cost the United States a fortune – and continue to do so – you must seriously lower interest rates!” Trump wrote in his note, adding “Hundreds of billions of dollars being lost! No inflation” and signing off.
Note shared by Donald Trump on the social media platform Truth Social.
Trump argued that the US interest rates should be at 1.75% or lower, and that the country should be among the countries with low interest rates.
Fed officials had planned to continue reducing interest rates once inflation slowed to its annual target of 2% in early 2025. However, those steps were postponed in the first half of the year due to the uncertainty created by Trump’s tariff plans.
In a statement last week, Powell defended the Fed’s decision to keep interest rates on hold again and said that “patience is needed.”
Trump, on the other hand, has been continuing his criticism of Powell for months. Trump, who has previously stated that he was considering firing Powell, whom he nicknamed “Mr. Too Late,” appointed Powell to the position in 2017. Powell’s term will end in 2026.
*This is not investment advice.
