President Donald Trump has renewed his calls for a lower interest rate cut, saying that if Federal Reserve Chair Jerome Powell “understood what he was doing,” rates would be coming down too. The President’s latest comments come as the White House has ramped up its criticism of Powell in recent days.
Trump argued that lowering interest rates could help prices decrease, pointing to examples of falling prices. However, his comments have been met with skepticism from some economists and lawmakers, who fear that removing the Fed chief could destabilize the financial markets.
White House economic adviser Kevin Hassett confirmed that Trump’s team is assessing whether they can remove Powell from his post. The President has posted on social media expressing his desire for Powell’s termination, sparking concerns about potential consequences for the central bank.
Federal Reserve Chair Powell recently stated that the president’s tariff plan could drive up inflation and create challenges for the Fed in managing economic goals. Trump criticized Powell’s comments, saying they were “likely to move us further away from our goals.”
The Federal Open Market Committee has set interest rates at 4.25% to 4.5%, with a high likelihood that they will remain steady at their next policy meeting.
Source: https://www.cnbc.com/2025/04/18/trump-renews-call-for-powell-to-lower-interest-rates-he-should-bring-them-down.html