President Donald Trump criticized Federal Reserve Chair Jerome Powell on Sunday, calling for the U.S. interest rate to be slashed to 1% or lower. In a Truth Social post, Trump accused Powell and the Fed’s Board of Governors of failing the country by keeping rates too high.
“Jerome ‘Too Late’ Powell, and his entire Board, should be ashamed of themselves,” Trump wrote. “They have one of the easiest, yet most prestigious, jobs in America, and they have failed.”
The former real estate developer-turned-president argued that lower rates would save the country “trillions of dollars” in interest costs and suggested the Fed is missing an opportunity to boost growth and reduce debt burdens.
While Powell has resisted political pressure in the past, Trump’s latest attack signals increasing frustration with the central bank ahead of his likely reelection campaign focus on economic growth and inflation control.
