Trump lays into Powell as Fed expected to hold interest rates steady

While the Federal Reserve has yet to announce its interest rate decision, President Donald Trump lambasted Chairman Jerome Powell once again.

“We have a stupid person, frankly, at the Fed, who probably won’t cut [interest rates] today,” Trump said at the White House. “Europe had 10 cuts, and we had none. And I guess he’s a political guy, I don’t know. He’s a political guy who’s not a smart person, but he’s costing the country a fortune.”

Trump named Powell to the position back in 2018, but has been a fierce critic this year. Interest rates remain at an elevated 4.25% to 4.50% even as inflation has fallen near the Fed’s 2% target rate. Market volatility and uncertainty from Trump’s tariffs are believed to be the reasons for

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