President Donald Trump on Thursday wrote that Federal Reserve Chairman Jerome Powell has refused to cut interest rates, which is hurting the American economy and costing the country hundreds of billions of dollars in interest expense.
The president wrote on Truth Social:
Jerome “Too Late” Powell again refused to cut interest rates, even though he has absolutely no reason to keep them so high. He is hurting our Country, and its National Security. We should have a substantially lower rate now that even this moron admits inflation is no longer a problem or threat. He is costing America Hundreds of Billions of Dollar a year in totally unnecessary…
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