Donald Trump Unleashes Tirade On Jerome Powell: 'Very Dumb, Hardheaded'
Based on facts, either observed and verified firsthand by the reporter, or reported and verified from knowledgeable sources.
Newsweek AI is in beta. Translations may contain inaccuracies—please refer to the original content.
President Donald Trump has fired another volley of insults at Federal Reserve Chair Jerome Powell and demanded that the benchmark interest rate be cut by as much as three points.
Trump sees higher interest rates as needlessly holding back the American economy. But the Fed is concerned about the outlook for inflation due to Trump's tariffs.
"'Too Late' Jerome Powell, of the Fed, will be in Congress today in order to explain, among other things, why he is refusing to lower the Rate," Trump posted to his Truth Social platform in the early hours of Tuesday morning.
"Europe has had 10 cuts, we have had ZERO. No inflation, great economy - We should be at least two to three points lower. Would save the USA 800 Billion Dollars Per Year, plus. What a difference this would make. If things later change to the negative, increase the Rate.
"I hope Congress really works this very dumb, hardheaded person, over. We will be paying for his incompetence for many years to come. THE BOARD SHOULD ACTIVATE. MAKE AMERICA GREAT AGAIN!"
This is a breaking news story. Updates to follow.
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