Donald Trump: 'There is a man at the Fed who is not smart'
US President Donald Trump criticized Fed Chair Jerome Powell, stating that interest rates would not be cut and that current rates should be lower.
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Hours before the US Federal Reserve (Fed) was set to announce its interest rate decision, President Donald Trump made sharp criticisms of Fed Chair Jerome Powell in a statement outside the White House. Trump stated that Powell is not smart enough and is doing a poor job.
Trump noted that if the Fed were to lower interest rates, they could borrow at more favorable costs. Arguing that current interest rates should be two and a half basis points lower, Trump said he believes the Fed will not make an interest rate cut today.
'I WOULD DO A MUCH BETTER JOB'
In addition to his criticisms of Powell, the US President also praised the country's success in tariff policies. "We have obtained 88 billion dollars from tariffs without inflation. However, there is a man at the Fed who is not smart, and he will likely not make a cut today," he said.
Trump also questioned whether he would want to appoint himself to the Fed and jokingly put himself forward, saying, "Am I allowed to appoint myself to the Fed? I would do a much better job."