Trump says Fed must lower interest rates substantially

U.S. President Donald Trump criticized Federal Reserve Chair Jerome Powell on Truth Social, stating that the central bank has once again refused to lower interest rates. The president argued there is no reason for the U.S. to maintain such high rates, which he claimed are costing the country hundreds of billions of dollars annually in unnecessary interest payments. Trump asserted that due to the massive influx of money from tariffs, the U.S. should have the lowest interest rates in the world. He added that other countries with low-rate policies are taking advantage of the U.S. and should return to earning money through traditional means. Trump concluded by emphasizing that the Fed must implement a substantial rate cut immediately.