Summary
- President Trump urged Jerome Powell, Chairman of the Federal Reserve, to immediately lower interest rates.
- He pointed out that the renovation costs of the Federal Reserve headquarters are excessive and mentioned the possibility of a large-scale lawsuit against Powell.
- Trump highlighted that the current economic situation is strong enough to outpace Federal Reserve policy—a point that could be important for investors.
U.S. President Donald Trump once again pressed Jerome Powell, Chairman of the Federal Reserve.
On the 12th (local time), President Trump stated on his social media, Truth Social, "'Too Late' Powell must immediately lower interest rates" and added, "Fortunately, the economy is so strong that we have completely overtaken Powell and the complacent (Fed) board."
President Trump also pointed out the ongoing renovation work at the Federal Reserve headquarters. He said, "I am considering allowing a large-scale lawsuit against Powell," and explained it was "because of the extremely incompetent management he has shown during the renovation work of the Federal Reserve building." Trump added, "Powell turned a renovation that should've cost $50 million into a $3 billion project," and remarked, "That is definitely not a good thing."
JOON HYOUNG LEE
gilson@bloomingbit.ioCrypto Journalist based in Seoul
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