President Trump has publicly criticized Federal Reserve Chair Jerome Powell, calling him 'very dumb and hardheaded' while pressing for interest rate cuts. Trump argues that high borrowing costs hinder economic growth, contrasting the U.S. Fed's inaction with global counterparts that have already reduced rates. He attributed potential savings of $800 billion to rate cuts and expressed frustration over Powell's upcoming Congressional testimony. Meanwhile, there are signs of dissent within the Fed, as Governor Michelle Bowman indicated potential support for a rate cut if inflation remains low. The next Fed decision is expected on July 30.
“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.”
“Would save the USA 800 Billion Dollars Per Year, plus. What a difference this would make.”
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