Trump Slams Fed Chair Powell Over 'Unnecessary' High Rates, Citing Economic Harm
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News18•29-01-2026, 18:59
Trump Slams Fed Chair Powell Over 'Unnecessary' High Rates, Citing Economic Harm
- •Donald Trump criticized Federal Reserve Chair Jerome Powell for maintaining high interest rates, arguing it harms the US economy, national security, and global competitiveness.
- •Trump stated Powell has "absolutely no reason" to keep rates elevated, especially as inflation is no longer a threat, advocating for the US to have the world's lowest interest rates.
- •The US Federal Reserve recently held interest rates steady at 3.50-3.75 percent, citing robust economic growth and signs of unemployment stabilization, despite Trump's pressure for cuts.
- •Trump claims high rates cost the US "hundreds of billions of dollars a year" in interest expenses, burdening government finances.
- •He linked interest rate policy to his tariff strategy, suggesting tariffs bring money into the US, justifying lower borrowing rates for America.
Why It Matters: Trump criticizes Fed Chair Powell for high interest rates, arguing they hurt the US economy and finances.
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