Trump Slams Fed Chair Powell For Not Cutting Interest Rates Fast Enough
Donald Trump has criticized Federal Reserve Chair Jerome Powell over interest rates, declaring on social media that Powell's "termination cannot come fast enough!" The president's remarks came ahead of the European Central Bank's (ECB) third interest rate cut this year. On Thursday, the ECB reduced its key rate, citing "rising trade tensions" as a factor. Trump, who appointed Powell as Fed chair in 2017 during his first term, wrote that Powell "is always TOO LATE AND WRONG" regarding rate reductions. He added: "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." Contrary to Trump's claims, egg prices have actually increased to $6.23 per dozen according to official data, though oil prices have decreased […]