Trump: Powell is a'fool '200 basis point rate cuts could save $600 billion a year
2025-06-12 21:40:56
Mr. Trump said he was not planning to fire Federal Reserve chairperson Jerome Powell but called him a "fool" for not cutting interest rates. Speaking at a White House event on Thursday, Mr. Trump said a 200 basis point cut would save the US $600 billion a year. "We're spending $600 billion a year because a'fool 'is sitting here saying'I don't see enough reason to cut rates now'," Mr. Trump said. Mr. Trump added that he agreed with the Fed raising rates if inflation rose "but now that inflation is coming down I may have to do something".
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