Trump attacks top Fed officials, calling for ultra-low interest rates

President Donald Trump has intensified his criticism of the Federal Reserve and its leadership, particularly targeting Chair Jerome Powell and the central bank's Board of Governors. In a series of posts on his social media platform, Trump expressed his dissatisfaction with the current interest rates, advocating for significantly lower rates to boost the economy. He characterized the Fed's inaction as shameful, suggesting that the board members should be held accountable for the economic situation in the United States. Trump highlighted a chart he shared, which compares the interest rates of various central banks around the globe, claiming that the U.S. has one of the highest rates among them. His assertion implies that the Fed's policies are not only detrimental but also lagging compared to international standards.

In addition to his direct attacks on the Fed's board, Trump noted that the decision-making power extends beyond just the governors, as it also includes regional Fed bank presidents who participate in voting on monetary policy. This indicates a broader target for his criticism, although it remains unclear whether Trump's remarks were specifically aimed at the board or all Fed officials with voting rights. During a news conference, White House press secretary Karoline Leavitt confirmed that Trump had indeed sent the aforementioned chart to the Federal Reserve, indicating his push for a more aggressive monetary policy that could potentially lower interest rates to around 1%. As the situation develops, it remains to be seen how the Fed will respond to Trump's demands and whether his public pressure will influence their future decisions regarding interest rates.