Last Updated on 2 days by Ashley Michael
President Donald Trump sharply criticized Federal Reserve Chair Jerome Powell on Thursday, calling for an emergency interest rate cut in response to reports that the European Central Bank (ECB) is preparing to cut rates for the seventh time.
In a post on Truth Social, President Trump wrote, Too Late” Jerome Powell of the Fed, who is always too late and wrong…
The ECB is expected to cut interest rates for the 7th time, and yet, “Too Late” Jerome Powell of the Fed, who is always TOO LATE AND WRONG, yesterday issued a report which was another, and typical, complete “mess!” Oil prices are down, groceries (even eggs!) are down, and the USA is getting RICH ON TARIFFS. Too Late should have lowered Interest Rates, like the ECB, long ago, but he should certainly lower them now. Powell’s termination cannot come fast enough!
The comments come a day after Powell acknowledged in a report that the impact of Trump’s tariffs remains “highly uncertain,” a statement that contributed to a decline in U.S. stock markets on Wednesday, according to CNN
Trump appointed Powell to lead the Federal Reserve in 2018. Despite their rocky relationship, former President Joe Biden later reappointed Powell for a second four-year term.