President Donald Trump on Thursday again railed against "Too Late" Federal Reserve Chair Jerome Powell for not lowering the U.S. central bank's benchmark rate.
"Tech Stocks, Industrial Stocks, & NASDAQ HIT ALL-TIME RECORD HIGHS! CRYPTO, "Through the Roof." NVIDIA IS UP 47% SINCE TRUMP TARIFFS. USA is taking in Hundreds of Billions of Dollars in Tariffs," Trump said in a Truth Social post.
In another part of the attck, Trump posted more in all-caps: "Country is now 'back.' A great credit! Fed should rapidly lower rate to reflect this strength. USA should be at the 'top of the list.' no INFLATION!!!"
"'Too Late' DEMEANS THE GREAT CREDIT OF THE USA," he said in a separate post.
"We are now, again, the Number One Credit in the World! 'Gigantic Comeback.' The Fed Rate should be reflective of this. We should be at the top of the list!!! LOWER THE RATE!!!"
Only "a couple" of officials at the Federal Reserve's June 17-18 meeting said they felt interest rates could be reduced as soon as this month, with most policymakers remaining worried about the inflationary pressure they expect to come from Trump's use of tariffs to reshape global trade.
Trump has demanded immediate, steep cuts and called for Powell to resign. The minutes released on Wednesday, however, showed only narrow support for a near-term reduction in borrowing costs among the Fed's 19 policymakers, with "some" of them feeling no rate cut would be needed at all.
Solange Reyner ✉
Solange Reyner is a writer and editor for Newsmax. She has more than 15 years in the journalism industry reporting and covering news, sports and politics.