Trump Demands Fed Slash Rates by 3%—Says Powell Should Step Down
2025-07-15 16:30:45
Main Idea
Former President Donald Trump demands a 3% interest rate cut by the Federal Reserve and calls for Chair Jerome Powell to resign, criticizing his policies as harmful to the U.S. economy.
Key Points
1. Trump publicly criticized Jerome Powell, calling him 'Too Late' and stating that his policies have been 'very bad for our country.'
2. Trump argues that the Fed should cut interest rates by 3 points, claiming it would save the U.S. nearly a trillion dollars annually.
3. Trump's economic adviser, Kevin Hassett, also criticized Powell over a costly renovation, further fueling Trump's disapproval.
4. Despite Trump's demands, the Fed shows no signs of changing its stance, with a 97.4% probability of holding rates steady in July 2025 according to CME Group’s FedWatch tool.
Description
U.S. President Donald Trump is still fuming over Federal Reserve Chair Jerome Powell’s refusal to trim interest rates. Taking to Truth Social on Tuesday, Trump declared the Fed needs to slash rates in a big way—and made it crystal clear he’s not letting up. ‘Too Late’ Powell Blasted by Trump Over Trillion-Dollar Interest Rate ‘Mistake’
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