President Trump criticized Federal Reserve Chairman Powell for not cutting interest rates, stating that he eagerly anticipates the end of his term.

After Federal Reserve Chairman Jerome Powell’s recent statement, President Donald Trump evaluated Fed’s interest rate policy on the social media platform Truth Social. Trump, who had previously frequently stated that Fed should lower its policy rate, argued that Powell should have done so long ago and expressed his eagerness for the end of his term. “EVEN THE PRICE OF EGGS HAS FALLEN” Powell had warned at an event on Wednesday, April 16th, at the Chicago Economics Club that the bank might find itself in a challenging scenario of tension between its inflation and employment targets. Fed Chairman also commented on customs tariff increases, saying, “The level of tariff increases announced so far is much larger than expected. The same situation is likely to apply to economic effects, including higher inflation and slower growth.” President Trump, in a social media post regarding the Fed, stated, “The European Central Bank (ECB) is expected to cut interest rates for the 7th time, but ‘Too Late’ Jerome Powell of the Fed, who is always very late and wrong, released yet another typical, completely terrible report yesterday. Oil prices fell, food and beverage prices (even eggs!) fell, and the U.S. is benefiting from tariffs. ‘Too Late’ (Powell) should have cut rates much earlier like the ECB; now he absolutely needs to cut them. I eagerly anticipate the end of Powell’s term.”