Following the Fed’s decision to hold interest rates steady, President Trump has reiterated his criticism of Fed Chair Jerome Powell, accusing him of harming American interests and calling for aggressive rate cuts.
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New trading tool for QQQ bulls“He is hurting our Country, and its National Security,” Trump said in a Truth Social post on Thursday. “We should have a substantially lower rate now that even this moron admits inflation is no longer a problem or threat.”
Trump Criticizes Powell as Investors Dial Back Rate-Cut Odds
Trump added that Powell is responsible for the U.S. paying hundreds of billions of dollars of interest expense that could be reduced if rates were lower. In addition, he said the U.S. should have the lowest interest rates in the world because of his administration’s tariff policy.
During a press conference on Wednesday, Powell lauded the resilience of the economy and consumer. That was a double-edged sword, as it also sent the odds of a 25 bps rate cut at the next Federal Open Market Committee (FOMC) meeting on March 18 lower. The odds currently sit at 13.4% on the CME FedWatch tool, down from 14.9% a week ago and 45.4% a month ago.
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