Trump “Powell Is The Worst… Cause Billions Of Dollars Loss To The U.S.”

President Trump is increasing pressure on the Fed's interest rate maintenance stance (Source: FT)

U.S. President Donald Trump once again strongly criticized Jerome Powell, the Chairman of the Federal Reserve (Fed). On June 19 (local time), he posted on his social platform 'Truth Social' saying, “Too Late Powell is the worst,” arguing “He is costing the U.S. billions of dollars.”

Trump also raised the level of his attack by posting an article urging Powell's resignation from major U.S. housing finance institutions, Fannie Mae and Freddie Mac, on the same post.

Meanwhile, on the same day, the Fed decided to keep the federal funds rate at 5.25~5.50% during the Federal Open Market Committee (FOMC) regular meeting. Trump has been consistently pressuring the Fed for a rate cut recently, and this statement is interpreted as revealing strong dissatisfaction with the Fed's tight monetary policy once again.

Trump's continued criticism of Powell is also understood as a strategy to highlight his economic leadership and make interest rate issues a major political agenda ahead of the upcoming presidential election.