Trump: Powell is a "fool"; cutting interest rates by 200 basis points could save $600 billion a year.

Gate News bot message, Trump stated that he does not plan to fire The Federal Reserve (FED) Chairman Powell, but referred to him as a “fool” for not lowering interest rates.

During a speech at an event at the White House on Thursday, Trump stated that a 200 basis point rate cut could save the United States $600 billion each year. Trump said, “We are spending $600 billion every year just because a ‘fool’ is sitting here saying ‘I don’t see enough reason to cut rates now.’”

Trump added that he agrees with the Federal Reserve (FED) to raise interest rates if inflation rises, “but now the inflation rate is falling, I may have to take some measures.”

Source: Jinshi