In a post on his Truth Social platform, US President Donald Trump argued that the Federal Reserve (Fed), which yesterday maintained interest rates at current levels, should “cut them substantially.”
“The Fed should cut interest rates substantially, NOW!” wrote the Republican president, estimating that “there is absolutely no reason” not to do so. “We should be paying the lowest interest rates of any country in the world,” Trump added in a post where half the sentence was written in capital letters, as is his custom.
Trump’s harsh criticism of Fed chairman
At the same time, he called Fed Chairman Jerome Powell a “fool.”
Trump has been making such posts in recent months, applying pressure for interest rate cuts as he insists that inflation “is no longer either a problem or a threat.”
The central bank, after consecutive interest rate cuts that began in September, yesterday decided not to cut them further, noting that while growth was “robust” and unemployment stabilized at 4.4%, inflation remains “somewhat elevated” at 2.8% for November, the latest month for which data is available.
