Trump Urges Powell to Slash Rates, Says 2% Rate Cut Could Save U.S. $600 Billion Annually
President Donald Trump escalated his criticism of Federal Reserve Chair Jerome Powell on Thursday, labeling him a “numbskull” and pressing him to deliver aggressive interest rate cuts.
Speaking from the White House, Trump argued that slashing rates by two percentage points would lead to massive federal savings—claiming it could reduce annual costs by $600 billion. But, he said, Powell has refused to act.
The remarks signal renewed political pressure on the central bank, as Trump intensifies calls for looser monetary policy amid concerns about debt servicing costs and the broader economic outlook.
Kosta Gushterov
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Kosta joined the team in 2021 and quickly established himself with his thirst for knowledge, incredible dedication, and analytical thinking. He not only covers a wide range of current topics, but also writes excellent reviews, PR articles, and educational materials. His articles are also quoted by other news agencies.
