Trump Criticizes Fed Chair Powell Over Interest Rates, Demands Cuts

President Donald Trump has intensified his criticism of Federal Reserve Chair Jerome Powell, accusing him of keeping U.S. interest rates artificially high and causing the country to lose trillions in interest costs. Trump sent Powell a handwritten note, accompanied by a chart comparing global interest rates, highlighting that many countries have significantly lower rates despite the U.S. having one of the strongest economies. Trump and White House Press Secretary Karoline Leavitt argue that the Fed's current target rate of 4.25% to 4.5% is detrimental, urging for a rate reduction to around 1%. Trump has publicly called Powell “Jerome ‘Too Late’ Powell,” blaming the Fed Board for failing to act promptly and effectively. This escalation comes amid ongoing Federal Reserve discussions about potential rate cuts in response to signs of cooling inflation and global economic uncertainty. Meanwhile, the president continues to push his economic agenda, including efforts to pass key budget legislation with Republican support.