U.S. President Donald J. Trump has strongly criticized Federal Reserve Chair Jerome Powell, demanding immediate interest rate cuts to support the economy and save taxpayers money.
In a detailed statement posted on social media, President Trump called Powell a “numbskull” for maintaining current high interest rates, and claimed that the U.S. could save up to $1 trillion per year if rates were reduced to 1–2%.
> “Powell complains about costs, most of which were produced by the Biden Fake Government,” President Trump said. “But he could do the biggest and best job for our Country by helping to lower Interest Rates.”
Trump argued that with virtually no inflation and strong economic performance, the Federal Reserve should prioritize cutting rates now rather than waiting for uncertain future conditions.
> “Don’t say that you think there will be Inflation sometime in the future, because there isn’t now,” he added. “But if there is, raise the Rates then!”
President Trump also criticized Powell’s reappointment by former President Joe Biden and admitted that his own decision to listen to outside advice about keeping Powell in place was a mistake.
The President emphasized that the U.S. should be at the top of the global list of low interest rates, not near the bottom. He attached a chart comparing the central bank interest rates of over 40 countries.
The U.S. currently stands at 5.25%, while countries like Switzerland, Japan, and Denmark maintain significantly lower rates.
> “We should be at the TOP of the attached List, not the bottom,” Trump said. “I don’t know why the Board doesn’t override this Total and Complete Moron.”
He also hinted that he may reconsider firing Powell before the end of his term, stating, “Maybe, just maybe, I’ll have to change my mind about firing him? But regardless, his Term ends shortly!”
The remarks come amid ongoing debates over inflation, debt costs, and the future path of interest rates in the U.S. economy.
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