Trump blasts ‘too late’ Powell for not cutting interest rates

The Federal Reserve has traditionally operated independently in setting monetary policy, but US President Donald Trump has signaled a desire to challenge that longstanding convention.

US President Donald Trump renewed his criticism of Federal Reserve Chair Jerome Powell, accusing him of being too slow to cut interest rates and escalating a long-running conflict that risks undermining the central bank’s political independence.

With the European Central Bank (ECB) cutting interest rates again on April 17, “Too Late” Powell has failed to act appropriately in the United States, even with inflation falling, Trump said on Truth Social on April 17. 

“Powell’s termination cannot come fast enough!” Trump said.

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