Trump demands immediate rate cuts: accuses Fed of bias and economic decline
Donald Trump accused Fed Chair Jerome Powell of sabotaging the economy and called for urgent interest rate cuts amid falling prices and recession threats.
Photo: Michael Vadon, CC BY 2.0
U.S. President Donald Trump sharply criticized the actions of the Federal Reserve, demanding an immediate interest rate cut.
In a statement published on his social network Truth Social, Trump pointed out that energy and food prices — including “Biden’s egg catastrophe” — have significantly decreased, meaning there is virtually no inflation.
According to him, the economy is at risk of slowing down if the Fed, led by the “always late” Jerome Powell, does not lower rates.
He also accused Powell of political bias, stating that he had cut rates before previous elections to support Joe Biden.
At the same time, Trump noted that Europe has already lowered rates seven times, and the U.S. is falling behind global trends.
It is worth recalling that on April 16, President Donald Trump had already criticized Federal Reserve Chair Jerome Powell for refusing to cut the interest rate.
In Trump’s view, with oil and food prices falling, the Fed should have acted decisively, as the European Central Bank has, preparing for a seventh rate cut.
He stated that Powell “messed it up again” and should be fired. Trump argued that current Fed policy is preventing the U.S. economy from benefiting from trade tariffs.
It was earlier reported that Senator Adam Schiff called for an investigation into potential insider trading after Trump’s social media post coincided with a sharp stock market surge — the lawmaker believes this could have affected stock prices and demands to check whether third parties profited from the post.