US President Donald Trump once again targeted Federal Reserve Chairman Jerome Powell in a statement on social media.
Trump pointed out that the European Central Bank has cut interest rates 10 times this year, explaining that the Fed had not taken action as an “economic disaster.”
“Rates are constantly being cut in Europe, but our country is still unchanged. Nevertheless, our country is on track, but if interest rates drop by one percentage point, it will have a rocket fuel effect on our economy,” Trump said, adding that if we cut the Fed’s interest rates, debt could be converted into cheap debt in the short and long term.
“Inflation is barely present. If it comes back, it can be countered by rate hiking. That’s so simple.” Trump said that the current interest rate policy is putting a big cost on the country, saying that Trump should have much lower borrowing costs.
White House spokesman Caroline Leavitt reported that Trump told Powell that the US was at an economic disadvantage against China and other countries due to its failure to cut interest rates.
A previous statement from the Fed reported that Powell told Trump that monetary policy should be led to economic data rather than political pressure.
Trump, who has been frequently criticizing Powell since taking office, has drawn attention to the nickname he gave her and his harsh statement.
*This is not investment advice.
