US President Donald Trump
US President Donald Trump renewed criticism of Federal Reserve Chairman Jerome Powell, accusing him of worsening the housing crisis and harming American families by delaying interest rate cuts.
In a post on Truth Social today, July 23, Trump said elevated borrowing costs are burdening citizens and forcing the US government to pay excessive interest on its debt.
He argued rates should be 300 basis points lower than current levels, which he claims would save the Treasury roughly $1 trillion per year.
Trump called Powell consistently late in decision-making and said the Fed’s board lacks the courage to take the right step on cutting rates.