Trump "Economic indicators are great… If it weren't for Powell, rates would be 2% by now"

U.S. President Donald Trump again criticized Jerome Powell, chair of the U.S. Federal Reserve (Fed).

President Trump said on the 25th (local time) on his social media platform Truth Social, "Today's economic indicators came out very well," and "the success we are achieving is also tremendous." The U.S. Commerce Department announced that the finalized Q2 U.S. gross domestic product (GDP) growth rate for this year was 3.8%, far exceeding the Dow Jones compiled forecast (3.3%).

President Trump emphasized the need for rate cuts. He said, "If it weren't for Powell, who is 'Too Late', we would by now have lowered rates to 2% and been in the process of balancing the budget," adding, "The good news is that despite Powell's incompetence, we are overcoming this"