Trump has openly criticized Fed Chair Powell, stating he performs poorly and costs the economy significantly. He desires interest rates reduced by as much as 3%, anticipating significant savings for the U.S. Meanwhile, Powell's reluctance to cut rates is perceived as detrimental to home buyers. Trump's frustrations were further fueled by cost overruns on the central bank's renovations, prompting his administration to question the Fed's management. Powell has since asked for an inspection of these budgetary issues.
Trump stated, "Powell does a terrible job and cost us a lot of money, but we fight through it," illustrating his dissatisfaction with the Fed chair's performance.
The president expressed his frustration, wanting interest rates cut by up to 3 percentage points, claiming it would save the U.S. $1 trillion in interest.
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