Trump Renews Criticisms of Fed Chair Powell’s Interest Rate Policy

President Donald Trump reiterated his call for Federal Reserve rate cuts Monday, extending attacks on the central bank’s chair that he renewed last week.

In a post on Truth Social, Trump said that “preemptive cuts” were necessary to keep the economy from slowing down. Federal Reserve officials have said they plan to “wait and see” what the effects of Trump’s trade policies will be before cutting their influential federal funds rate again.

This was the latest development in the president’s public objections to the actions of the Fed and its chair, Jerome Powell.

Since the end of his first term, Trump has been critical of Powell and has threatened the central bank’s independence. Last week, Trump called for Powell’s “termination” after the Fed chair spoke to a group in Chicago about how Trump’s tariffs could pose a “challenging” scenario for the Fed by slowing down the economy while pushing up prices.