Trump attacks Powell: 'Too slow in lowering rates'
Tycoon: 'The end of the Fed Chairman's term cannot come soon enough'
1' min read
Key points
1' min read
US President Donald Trump has returned to attack Federal Reserve Chairman Jerome Powell, whom he deems 'too slow' in lowering interest rates.
"The ECB is expected to cut interest rates for the seventh time, yet the Fed's "Too Late" Jerome Powell, who always moves too late and in the wrong way, yesterday released a report that was another, and typical, complete "disaster"," Trump wrote on his Truth social.
"Oil prices are falling, foodstuffs (even eggs!) are falling and the US is getting richer with tariffs. Too Late (as Trump calls Powell, ed) should have lowered interest rates, like the ECB, a long time ago, and should certainly lower them now. The end of Powell's term cannot come soon enough,' Trump added.
Bessent urges caution
The Politico writes, in an article by Megan Messerly and Victoria Guida, that according to two people close to the White House, Treasury Secretary Scott Bessent has repeatedly warned White House officials that qany attempt to fire Federal Reserve Chairman Jerome Powell would risk destabilising financial markets.
Bessent's private message reinforces what President Donald Trump already knows, but it comes at a time when the president's anger at the Fed chairman is growing because Powell has shown no signs of an imminent interest rate cut.
