Trump criticized the Fed for the interest rate cut, calling it insufficient.

Trump's Criticism of the Fed Continues

US President Donald Trump deemed the Federal Reserve (Fed)'s decision to lower the policy interest rate by 25 basis points to the range of %3.5-3.75 as insufficient. Trump stated that this reduction could have been "at least twice as much."

Sharp Criticism of Powell

During a roundtable meeting with business leaders at the White House, Trump continued his strong criticisms directed at Fed Chairman Jerome Powell, describing Powell as "rigid." He emphasized that while interest rates have been lowered, it is not sufficient.

Trump stated, "I can say it is quite low, it could have been at least twice as much," indicating a need for a more radical interest rate cut.

'Honesty' Emphasis for Interest Rates

Jerome Powell's term as Fed Chairman will end in May 2024. Trump provided information about his discussions regarding a new chairman, stating that he will meet with former Fed board member Kevin Warsh today. "I am looking for someone who will be honest about interest rates. Our interest rate should be much lower," he said.

Fed Decided to Cut Interest Rates

In the last Federal Open Market Committee (FOMC) meeting of this year, the Fed reduced the policy interest rate by the expected 25 basis points to the range of %3.5-3.75.