President Donald Trump renewed his criticism of Federal Reserve Chair Jerome Powell, stating that interest rates are too high and hinting at a possible call to the central bank chief. During an event in the Oval Office, Trump remarked, “I haven’t called him. I might call him.” He accused Powell of making mistakes by not lowering interest rates and criticized his timing in raising rates during the early stages of the inflation crisis. Trump nominated Powell in 2017 but has since publicly criticized him, calling him a “major loser.” Despite this, Trump mentioned on Tuesday that he has “no intention” of firing Powell after receiving advice against it. Powell has consistently denied any political influence in the Fed’s monetary policy decisions and emphasized careful consideration before rate adjustments. Trump expressed hope that Powell would lower interest rates, asserting that the country is poised for strong economic performance without inflation concerns.
— new from CNN