Quarter-Point Rate Cut Not Enough, Says US President Donald Trump; Calls Jerome Powell A 'Deadhead'
Trump added that the rate cuts issued could have at least been 'doubled' as higher inflation continues to weigh on US consumers.
US President Donald Trump has reacted to US Federal Reserve's 25 basis point rate cut on Wednesday, stating that it is 'not enough' amid rising inflation.
Speaking at a business roundtable moments after the rate cut, not only lamenting the US Fed's decision to cut the rate by only a quarter percentage point but also deriding US Fed Chair Jerome Powell, calling him a 'deadhead', reports CNN.
Trump added that the rate cuts issued could have at least been 'doubled' as higher inflation continues to weigh on US consumers.
The US President also called Powell a 'stiff', who settled for a 'rather small' cut.
“I’m looking for somebody that will be honest with interest rates,” Trump said, before adding, “Our rate should be much lower.”
“We’re going to go back to the old days,” Trump added at the roundtable. “When we announced great results, it doesn’t mean we’re going to raise interest rates and try and kill it.”
This is not the first time Trump has attacked Powell for perceived rate trajectory. The US President has maintained that Powell should be more aggressive with the rate cuts, even as equities and commodities trade near all-time highs.
