US President Donald Trump continues to pressure Fed Chairman Jerome Powell to cut interest rates.
Trump denounced Powell on a handwritten note shared on Truth social platforms on Monday, saying interest rates should be “significantly” lowered.
“Powell and the Federal Reserve Committee should be embarrassing. They have one of America's easiest yet honorable jobs, and they continue to fail and fail.”
Images added to the post included messages Trump wrote in a Sharpie Pen on a table showing interest rates for central banks across different countries.
“Jerome – as always, you're too late. You're sacrificing a lot of money to the US – and keep doing that – you need to seriously lower your interest rates!” Trump wrote in his note, adding that he signed off, “Hundreds of billions of dollars lost! There's no inflation.”
A note shared by Donald Trump on social media platforms Truth.
Trump argued that the US rates should be below 1.75% and that the country should be in a low-interest country.
Fed officials had planned to continue cutting interest rates after inflation slowed to an annual target of 2% in early 2025. However, these steps were postponed to the first half of the year due to the uncertainty created by Trump's tariff plans.
In a statement last week, Powell defended the Fed's decision to hold back interest rates again, saying that “it takes patience.”
Meanwhile, Trump has been criticizing Powell for months. Trump, who previously said he was considering firing Powell, known as “Mr. Too Rail,” appointed Powell in 2017. Powell's term ends in 2026.
*This is not investment advice.
