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Trump takes aim at central bank chair again and says he 'should be ashamed'
Donald Trump has launched his latest attack on the US central bank, saying the interest rate setters had "failed".
Over the weekend, he said he wanted interest rates to be 1% and that he would "love" for Jerome Powell, the chair of the Federal Reserve, to resign. It comes less than two weeks since he called Mr Powell a "stupid person" and said: "Maybe I should go to the Fed.
Am I allowed to appoint myself at the Fed?" In a post on his Truth Social platform on Monday, Mr Trump said: "Jerome 'Too Late' Powell, and his entire board, should be ashamed of themselves for allowing this to happen to the United States." It was not clear what Mr Trump was referring to when referencing "this". "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," the post read. "We should be paying 1% interest, or better!" A message to Mr Powell was also written on a leaderboard of countries' interest rates, ranked from low to high, showing the US ranked 35th, coming behind the United Arab Emirates and the UK.
The Federal Reserve, known as the Fed, had held the cost of borrowing at 4.25%-4.5%. Unlike the UK, the US interest rate is a range to guide lenders rather than a single percentage.
Despite the threats from Mr Trump and from his press secretary Karoline Leavitt, who told reporters inflation was "completely diminished.
Amir Nisi
Creative and experienced content writer with 6+ years of experience lazy to create unique content strategy for News5 to turn website visitors into customers.
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