President Donald Trump lashed out again Thursday at Federal Reserve Chair Jerome Powell, accusing him of dragging his feet on interest rate cuts despite record-breaking market gains.
“Tech Stocks, Industrial Stocks, & NASDAQ HIT ALL-TIME RECORD HIGHS! ... USA is taking in Hundreds of Billions of Dollars in Tariffs,” Trump wrote on Truth Social. He called Powell “Too Late” and said the Fed’s inaction “demeans the great credit of the USA.”
Trump argued that a “gigantic comeback” in the economy justifies immediate cuts, adding, “We should be at the top of the list!!! LOWER THE RATE!!!”
Minutes from the Fed’s June meeting, released Wednesday, showed limited support for a near-term cut, with most officials concerned that Trump’s tariffs could fuel inflation.
Only a few policymakers supported reducing rates this month. Trump, frustrated by the Fed’s caution, has demanded steep cuts and called on Powell to resign.
