In a Truth Social post on June 30, President Trump lambasted Fed Chairman Jerome Powell for keeping the interest rates high. In his post, Trump writes, “Jerome ‘Too Late’ Powell, and his entire Board, should be ashamed of themselves for allowing this to happen to the United States. They have one of the easiest, yet most prestigious, jobs in America, and they have FAILED—And continue to do so. If they were doing their job properly, our Country would be saving Trillions of Dollars in Interest Cost. The Board just sits there and watches, so they are equally to blame. We should be paying 1% Interest, or better!”
The issue also came up at today’s White House briefing, with Karoline Leavitt reading up from a note the President had sent to Powell with a list of a couple dozen of countries and the interest rates they are paying, most of which were around 4%. She also read up the message scribbled on the list by the President. “You are as usual too late. You have cost the U.S.A. a fortune and continue to do so. Hundreds of billions of dollars are being lost, and there is no inflation.”
