In a morning post on Truth Social, President Donald Trump cited falling energy and food costs as evidence that the Fed should move quickly to lower rates.
“‘Preemptive Cuts’ in Interest Rates are being called for by many. With Energy Costs way down, food prices (including Biden’s egg disaster!) substantially lower, and most other ‘things’ trending down, there is virtually No Inflation,” Trump wrote.
The president continued his argument by suggesting the economy could slow “unless Mr. Too Late, a major loser, lowers interest rates, NOW.”
He also accused Fed Chair Jerome Powell of political motives, claiming the Fed chair “lowered in order to help Sleepy Joe Biden, later Kamala, get elected,” before adding, “How did that work out?”
Wall Street reacted swiftly to the president’s comments. Markets dove deep and hard throughout Monday’s trading session, with the dollar falling to a three-year low.
This is not the first time Trump has targeted Powell. The president has previously called for the “termination” of the Fed chair.
The tensions come as the administration continues to navigate economic challenges following its trade policies, particularly regarding the trade war with China.
Click play to listen to the AURN News report from Jamie Jackson:
