President Donald Trump, ahead of Federal Reserve Chair Jerome Powell’s appearance before Congress on Tuesday, said he hopes that lawmakers work “this very dumb, hardheaded person over” and insisted that the United States would save billions of dollars if its interest rate were two to three points lower.
“‘Too Late’ Jerome Powell, of the Fed, will be in Congress today in order to explain, among other things, why he is refusing to lower the Rate,” Trump posted on his Truth Social page early Tuesday morning. “Europe has had 10 cuts, we have had ZERO. No inflation, great economy – We should be at least two to three points lower.”
He added that the cut “would save the USA 800 Billion Dollars Per Year, plus. What a difference this would make. If things later change to the negative, increase the Rate.”He added that he hopes “Congress really works this very dumb, hardheaded person, over. We will be paying for his incompetence for many years to come. THE BOARD SHOULD ACTIVATE.”
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