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Trump urges Federal Reserve to proceed with rate cuts
US President Donald Trump has once again urged the Federal Reserve to cut interest rates. The White House leader justified his position on interest rates by pointing out that prices in America are falling “on almost everything”: gasoline, groceries, and other consumer goods.
On his social media platform Truth Social, the American leader compared the situation in the US to what is happening in Europe and China, where interest rates have been lowered. He believes there is no inflation in the US: “Look, prices for gasoline, energy, food, and almost everything else are DROPPING!!!” Against this backdrop, Trump argues, the Federal Reserve must cut interest rates, “just like Europe and China did.”
The US president also criticized Federal Reserve Chair Jerome Powell, questioning his approach to managing the economy. “What’s wrong with slowpoke Powell?” Trump asked sarcastically. “Is this fair to America, which is ready to bloom? Let happen what needs to happen, and everything will be great!” Interestingly, the US leader had previously expressed dissatisfaction with the actions of the Federal Reserve Chairman.
© InstaFintech Group
