▲ Donald Trump, President of the United States
On the 21st (local time), U.S. President Donald Trump called Jerome Powell, the chair of the U.S. Federal Reserve System (Fed), a “major failure” and renewed his pressure for a rate cut.
In a post on social media today, President Trump wrote, “If the major failure does not cut rates, there could be an economic slowdown.”
President Trump further stated that “many people are demanding a ‘preemptive cut’ in rates” and claimed that since his inauguration, energy and food prices have substantially decreased, and the prices of most other goods are showing a downward trend.
President Trump also criticized that, except for when Chair Powell cut rates during last year’s presidential election to “assist” then-President Joe Biden and Democratic presidential candidate Kamala Harris, the vice president at the time, his decisions have always been too late.
Since Chair Powell has expressed no intention of resigning before his term expires in May next year, President Trump continues to pressure him with sharp remarks.
(Photo: AP, Yonhap News)