Trump Renews Criticism of Fed Chair Powell Following Steady Rate Decision
Former US President Donald Trump has launched another sharp attack on Federal Reserve Chair Jerome Powell, accusing him of damaging the American economy and compromising national security by refusing to lower interest rates. The criticism came after the Federal Reserve maintained its current monetary policy stance, keeping rates steady despite political pressure for reductions.
'Too Late' Powell Accused of Harming National Interests
In a detailed post on his Truth Social platform, Trump personally targeted Powell, using the nickname "Too Late" that he has frequently employed in previous criticisms. The former president argued that the central bank's current policy position lacks justification and imposes unnecessary financial burdens on the United States.
"Jerome 'Too Late' Powell again refused to cut interest rates, even though he has absolutely no reason to keep them so high," Trump wrote in his social media statement. "He is hurting our Country, and its National Security."
Trump claimed that Powell himself has acknowledged that inflation no longer poses a significant threat to the economy, making the current elevated interest rate levels unnecessary and counterproductive to national interests.
Substantial Financial Burden Cited by Former President
The former president emphasized what he described as the heavy financial consequences of maintaining higher interest rates. According to Trump's assessment, the current policy stance costs the United States government hundreds of billions of dollars annually in what he called unnecessary interest expenses.
"He is costing America Hundreds of Billions of Dollar a year in totally unnecessary and uncalled for INTEREST EXPENSE," Trump declared in his post. The former president has consistently argued that lower interest rates would substantially reduce the cost of servicing the country's national debt, providing significant financial relief to government operations.
Tariff Revenue Presented as Justification for Rate Cuts
Trump directly connected his demand for interest rate reductions to his administration's tariff policies, asserting that these trade measures have strengthened the American economy and increased government revenue streams. According to the former president, these economic benefits should translate into more favorable borrowing conditions for the United States.
"Because of the vast amounts of money flowing into our Country because of Tariffs, we should be paying the LOWEST INTEREST RATE OF ANY COUNTRY IN THE WORLD," Trump wrote, emphasizing his position with capital letters for dramatic effect.
The former president described other nations as "low interest rate paying cash machines" that benefit from the strength of the American economy. He suggested that with simple policy adjustments, billions more dollars would flow into the United States while other countries would need to pursue more traditional economic approaches.
Immediate Action Demanded from Federal Reserve
Trump concluded his social media post with a renewed and urgent call for the Federal Reserve to take immediate action on interest rates. His demand emphasized aggressive monetary policy adjustments that he believes would benefit the American economy.
"The Fed should substantially lower interest rates, NOW!" Trump wrote, adding that "Tariffs have made America strong and powerful again... WE SHOULD BE PAYING LOWER INTEREST RATES THAN ANY OTHER COUNTRY IN THE WORLD!"
The Federal Reserve has maintained its independence from political pressure, consistently stating that interest rate decisions will continue to be guided by economic data and analysis rather than political considerations. This ongoing tension between political demands and central bank independence represents a significant aspect of current economic policy discussions in the United States.
