Trump: "Powell is a disaster… Immediate interest rate cut needed"

Suehyeon Lee

Summary

President Trump denounced Fed Chair Powell as a 'disaster' and called for an interest rate cut.
It was stated that the recent weakening of U.S. July employment data suggests growing market expectations for a rate cut.
Trump emphasized that his tariff policy has brought billions of dollars in revenue to the United States.

U.S. President Donald Trump continued his criticism of Jerome Powell, Chair of the Federal Reserve (Fed).

According to Watcher Group on the 1st (local time), Trump said about Powell, "Too Little, Too Late," and referred to "the too-late Powell" as a disaster, urging, "Cut interest rates immediately."

This is interpreted as renewed pressure on the Fed to lower rates after the United States' July employment data showed significant deterioration. Previously, U.S. non-farm employment in July increased by only 73,000 compared to the previous month, falling significantly short of market expectations.

Meanwhile, Trump added, "The good news is that tariffs are bringing billions of dollars to the United States," emphasizing the effectiveness of his tariff policies.