President Trump on Wednesday renewed his attacks on Federal Reserve Chair Jerome Powell, criticizing the Fed’s tight monetary policy and calling for deep interest rate cuts to lower the government’s borrowing costs.
“He’s a political guy and not a smart person,” Trump told reporters during a ceremony on the White House lawn to mark the installation of two new flagpoles.
The former president argued that the economy is performing well despite the Fed’s high interest rates—and that it would be doing even better if Powell lowered them. Trump said the central bank should slash its benchmark rate by two-and-a-half percentage points. The Fed has held its target rate steady at a range of 4.25 percent to 4.50 percent since December 2024, just before
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