President Donald Trump on Tuesday called out the Federal Reserve, saying the central bank should lower interest rates.
“Interest Rates should be lowered, something which would go hand in hand with upcoming Tariffs!!!” Trump said in a post on Truth Social. “Lets Rock and Roll, America!!!”
The president’s comments come a day after Fed Chairman Jerome Powell said on Capitol Hill that the central bank doesn’t need to “hurry” to lower interest rates.
FEDERAL RESERVE HOLDS INTEREST RATES STEADY AMID INFLATION UNCERTAINTY
“We do not need to be in a hurry to adjust our policy stance,” Powell testified before the Senate Banking Committee. “We know that reducing policy restraint too fast or too much could hinder progress on inflation. At the same time, reducing policy restraint too slowly or too little could unduly weaken economic activity and employment.”
Fed officials, at their most recent meeting in January, held the benchmark federal funds rate steady at a range of 4.25% to 4.5%.
TRUMP SAYS HE WON’T FIRE FED CHAIR JEROME POWELL
It follows three consecutive interest rate cuts at the central bank’s most recent meetings – including a 50-basis-point cut in September as well as a pair of 25-basis-point reductions in November and December.
FOX Business’ Eric Revell contributed to this report
