Overview

• President Trump urged Fed Chair Jerome Powell to slash interest rates by a full percentage point in a Truth Social post on June 6, branding him “Too Late” at the Fed and a “disaster.”
• Trump highlighted that European central banks have implemented ten rate cuts while the Federal Reserve has kept rates unchanged.
• He made the demand despite a Labor Department report showing stronger-than-expected job growth and his own assertion that the U.S. economy is “doing great.”
• The president’s public criticism marks an escalation in his sustained effort to influence monetary policy through direct pressure on the central bank.
• Jerome Powell and the Federal Reserve have insisted that all rate decisions will continue to be based on economic data, reaffirming the Fed’s independence.