When one shock dies down, thinking about starting a new one would seem to be Donald Trump’s motto. After going back on the tariffs imposed on the United States’ trade partners, except for China, on April 9, the US president continued to undermine the Federal Reserve (Fed), the American central bank.
In a post on his social media platform Truth Social on Monday, April 21, Trump once again attacked Fed Chair Jerome Powell, accusing him of not lowering interest rates to support the economy, which has been rocked by the chaos Trump created: “‘Preemptive Cuts’ in Interest Rates are being called for by many. With Energy Costs way down, food prices (including Biden’s egg disaster!) substantially lower (…), there is virtually No Inflation. With these costs trending so nicely downward, just what I predicted (…), there can be a SLOWING of the economy unless Mr. Too Late, a major loser, lowers interest rates, NOW,” wrote Trump, adding: “Europe has already ‘lowered’ seven times. Powell has always been ‘To Late,’ except when it came to the Election period when he lowered in order to help Sleepy Joe Biden, later Kamala, get elected.” The Fed cut rates by half a point in September 2024, which was the last time before the November presidential election.
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