Donald Trump has once again lashed out at Federal Reserve Chair Jerome Powell, blaming high interest rates for negative impacts on the US economy.
Trump Continues Criticism of Powell
On Friday evening, Donald Trump posted on his Truth Social account that he regretted appointing Powell as Fed Chair, claiming it cost the country up to $1 trillion per year. He urged Powell to lower interest rates to between 1% and 2%.
Divided Opinions in the Fed on Future Rates
The Fed's committee is currently split on next steps. Some members believe inflation is still high, while others advocate for rate cuts soon.
Fed Officials’ Stances on Rate Cuts
Mary Daly from the San Francisco Fed proposed a more balanced approach, stating that while a rate cut in the fall may be appropriate, doing so in July isn't sensible. She warned against hasty decisions based on insufficient data.
Trump's criticism of Powell highlights the ongoing divisions within the Fed and the pivotal decisions ahead. Adjustments to interest rates remain a vital topic for economists and politicians.
