Trump: Powell is a'fool '200 basis point rate cuts could save $600 billion a year
2025-06-12 21:37:27
On June 13, Trump said he did not plan to fire Federal Reserve Chairperson Jerome Powell, but called him a "fool" because he did not cut interest rates. Speaking at a White House event on Thursday, Trump said that cutting interest rates by 200 basis points would save the United States $600 billion a year. "We're spending $600 billion a year because a'fool 'sits here and says'I don't see enough reason to cut rates now'," Trump said. Trump added that he agreed with the Fed to raise interest rates if inflation rose, "but now that inflation is falling, I may have to do something".
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