On social media: "In reality, there is no inflation"
Pressuring for a rate cut amid concerns over a tariff-driven recession
Criticizing Powell as "Mr. Too Late"
U.S. President Donald Trump has once again pressured Federal Reserve (Fed) Chair Jerome Powell for a preemptive interest rate cut, attacking him as a "loser" and "Mr. Too Late." Analysts suggest that as concerns mount over a tariff-induced recession, Trump is both pressing the Fed to lower rates and laying the groundwork to blame Powell should an economic downturn occur in the future.
On the 21st (local time), President Trump stated on his own social networking service, Truth Social, "In reality, there is no inflation," reiterating his stance.
He argued, "Energy costs are coming down, and food prices have dropped significantly, including Biden's (former President Joe Biden) egg disaster," adding, "Most other things are also on a downward trend."
He increased the pressure on Chair Powell, demanding an immediate interest rate cut.
President Trump said, "If the major loser, Mr. Too Late, does not cut rates right now, the economy could slow down," and pointed out, "Europe has already cut rates seven times." He continued, "Except for when Powell cut rates during the election period to help 'Sleepy Joe Biden (later Kamala Harris)' win, he has always been late. What was the result of that?"
As projections of an economic slowdown due to tariff shocks spread on Wall Street, President Trump has repeatedly mentioned firing Chair Powell and has continued to demand a rate cut from the Fed.
On the 17th, President Trump also criticized Powell, saying, "If I wanted him out, he would be gone very quickly," and called the Fed's interest rate policy "political."
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