The former president criticizes the Fed's delay in rate cuts while praising European monetary policy.
Former U.S. President
Donald Trump has once again urged the Federal Reserve to implement a significant reduction in interest rates, advocating for a cut of one percentage point (1%).
In a post on the social media platform Truth Social, Trump expressed his discontent with the Federal Reserve's timing, labeling the delays as a 'disaster.' He noted that while Europe has adopted ten interest rate cuts, the United States has yet to make a move in this direction.
Trump emphasized, 'Our country is performing excellently; let's make it a full point for stimulus!'
Trump further remarked that the Federal Reserve should be prepared to increase rates again if the cuts result in inflation.
In another statement, he highlighted positive indicators in the stock market and the revenue generated from tariffs, stating, 'Wonderful numbers, the stock market is experiencing a huge rise! Meanwhile, billions are flowing in from tariffs!'
On Friday, Trump mentioned that a decision regarding the next chair of the Federal Reserve will be made soon, adding that any effective chair would lower interest rates.
He has repeatedly criticized Jerome Powell, the current chair of the Federal Reserve, for not acting decisively to cut rates.
The two met face-to-face for the first time last week, where Trump reportedly told Powell he was making a 'mistake' by not reducing rates.
Market analysts currently predict a minimal probability of any reduction in interest rates, let alone a full one-point cut, following the upcoming Federal Open Market Committee meeting later this month.
In May, the Federal Reserve maintained its benchmark interest rate within the range of 4.25% to 4.50%, the same range it has held since December.
Policymakers have indicated that they may keep the rates steady for several more months while awaiting further clarity regarding tariff impacts.