Trump: "Inflation is no longer a problem… rates should be cut sharply"

JOON HYOUNG LEE

Summary

U.S. President Donald Trump said the Federal Reserve (Fed) should cut interest rates sharply right away.
Trump said inflation is no longer a problem and not a threat, and that unnecessary interest costs are saddling the United States with hundreds of billions of dollars each year.
Trump said his tariffs are bringing enormous funds into the United States and that the U.S. should be getting lower interest rates than any country in the world.

U.S. President Donald Trump said on the 29th (local time) that "the Federal Reserve (Fed) should cut interest rates sharply right away."

Trump wrote this on his social media platform Truth Social, saying that "'Too Late' Jerome Powell once again refused to cut rates for no reason." Earlier, the Fed on the previous day (28th) held the benchmark policy rate steady at 3.50–3.75%.

Trump stressed that "(Chair Powell) is also harming national security." He said, "Even this fool (Chair Powell) is acknowledging that inflation is no longer a problem and not a threat," adding that "even so, he is saddling the United States with hundreds of billions of dollars a year in entirely unnecessary and unjustifiable interest costs."

He also referred to his tariff policy. Trump said, "With enormous funds flowing into the United States thanks to tariffs, we should be getting lower interest rates than any country in the world," adding that "with a single stroke of the pen, billions of dollars can come into the United States."

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