Donald Trump criticises Fed’s chairman Jerome Powell’s actions and insists on rate cut

Today, US President Donald Trump declared the necessity of reducing interest rates by 2-3%. He also continued making critical comments toward Federal Reserve System (Fed) Chairman Jerome Powell.

According to Investing.com, the politician's dissatisfaction was voiced just hours before the Fed official's testimony before the US Congress. Moreover, the president pointed to insufficient changes in borrowing costs, comparing the effectiveness of the country's financial regulator with the European Central Bank. In his view, the pace of interest rate cuts in the States is insufficient.

Last week, the US Fed maintained rates at the current level of 4.5%. At the same time, Powell noted the negative impact of President Trump's tariffs on the future possibility of reducing borrowing costs.

The country's financial regulator implemented a cumulative reduction in interest rates of 1% in 2024, the agency reported. Meanwhile, the central bank has adopted a more cautious stance regarding the course of monetary policy for 2025 and 2026.