Trump Criticizes Powell Again: The Fool May Not Cut Rates Today
U.S. President Trump once again criticized Federal Reserve Chairman Powell on Wednesday, just hours before the Fed announced its interest rate decision. Trump stated that the U.S. has collected $88 billion from tariffs and that there is "no inflation," once again calling for a rate cut. He said, "If the Fed cuts rates, we will buy U.S. Treasuries at lower prices. But frankly, we have a foolish person at the Fed, and he may not cut rates today. He has done a terrible job. We should cut rates by 200 basis points, and it would be even better if we could cut by 250 basis points. I plan to adopt a short-term strategy first, making a significant rate cut, and then switch to a long-term strategy."
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