Trump “Powell must be immediately dismissed… Interest rate cut is urgent”

President Trump Pressuring The Fed To Cut Interest Rates (Source: FT)

President Donald Trump Of The United States Strongly Insisted On The Dismissal Of Jerome Powell, Fed Chair, And Repeatedly Urged An Interest Rate Cut. On The 17th, President Trump Said On His SNS, "Powell Should Have Lowered The Rate Like The ECB Did. Now It Is Too Late, And He Has Always Made Wrong Decisions," Adding "His Speech The Previous Day Was A Complete Mess. The Fed Must Lower Interest Rates Immediately, And Powell Should Be Dismissed Soon."

Trump Criticized That The US Fed Has Fallen Behind In The Global Tightening Trend By Mentioning That The European Central Bank (ECB) Has Cut Rates Seven Times. Recently, The ECB Lowered The Benchmark Rate By 25bp To Adjust It To 2.25%.

President Trump Has Pointed Out That Powell's Monetary Policy Is Too Conservative, Increasing The Risk Of Recession. These Remarks Come Amid The Fed's Internal Stance Of Rate Freezing Being Maintained, Interpreted As A Sign That The Level Of Political Pressure Is Increasing.