Editor's PiCK
Trump: "Powell and the Fed ruined the US economy... Interest rates should be below 1%"
Summary
- Former President Trump stated that he strongly criticized the policy failures of the Fed Board and Chair Powell.
- Trump emphasized that the US benchmark interest rate should be '1% or below.'
- He continues to pressure for rate cuts, claiming that the current policy is burdening the US economy.
Former US President Donald Trump continued his strong criticism of Federal Reserve (Fed) Chair Jerome Powell and the Board of Governors.
On the 30th (local time), President Trump stated via his social media platform Truth Social, "The too-late Powell and the Fed Board of Governors should be ashamed."
He criticized, "The Fed Board is in charge of the easiest and most honorable job in America, but they have failed and continue to repeat that failure. If they had done their job properly, the US would have saved trillions of dollars in interest costs."
He added, "Since the Fed Board has done nothing but stand by and watch, they are all responsible," emphasizing, "The current US benchmark interest rate should be brought down to 1% or below."
Recently, President Trump has continued to criticize the Fed's rate policy and is consistently pressing for rate cuts, arguing that current policies are burdening the US economy.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
