President Donald Trump renewed pressure on the Federal Reserve on Monday, calling for “preemptive cuts” to interest rates amid what he claims is a clear drop in inflation. In a post on Truth Social, Trump cited falling energy and food costs—mocking “Biden’s egg disaster”—as signs inflation is virtually gone.
“Just what I predicted,” Trump wrote, adding that the real risk now is economic slowdown if the Fed doesn’t act quickly. He criticized Fed Chair Jerome Powell as “Mr. Too Late,” accusing him of political bias by allegedly lowering rates to help President Biden during the 2020 election.
Trump also pointed to Europe, claiming central banks there have cut rates seven times already.
