Trump wrote in a social media post, “Europe has dropped by 10 rates, we have nothing. Although Powell, our country is doing great. Go to the whole issue,” Trump wrote in a social media post. Central banks usually limit the move to the quarter -point changes.
Trump said the Fed can always increase rates if the cut leads to inflation.
The president has repeatedly set up Powell to not change the rate as his desires. For the first time last week, the two men met face-to-face, in which Trump told Powell that he was “mistaken” by reducing the rate.
The Fed left the policy rate 4.25% -4.50% in May, where it is from December, and policy makers have indicated that they can leave it for another several months as they wait for more clarity on Trump’s tariff policy.
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