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Trump Pressures Fed to Cut Rates, Criticizes Powell

7/2/2025

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Summary

Story summary

President Trump urged the Federal Reserve to reduce interest rates, arguing it burdens the U.S. economy.
He expressed criticism towards Fed Chair Jerome Powell in a handwritten note and on social media.
Trump claimed that lowering rates could save the country trillions in interest expenses.
He has previously hinted at firing Powell and suggested he resign before May.

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Story summary

President Trump urged the Federal Reserve to reduce interest rates, arguing it burdens the U.S. economy.
He expressed criticism towards Fed Chair Jerome Powell in a handwritten note and on social media.
Trump claimed that lowering rates could save the country trillions in interest expenses.
He has previously hinted at firing Powell and suggested he resign before May.