White House press secretary Karoline Leavitt and President Trump criticized Federal Reserve Chair Jerome Powell, urging him to significantly lower interest rates. During a press briefing, Leavitt read a letter highlighting the U.S.'s low ranking in global bank interest rates, advocating for drastic changes. The letter warned that Powell's inaction has cost the U.S. economy billions, asserting there is no inflation. Trump echoed these sentiments on his Truth Social account, challenging Powell's policies in light of other nations' lower rates.
The letter, presented to reporters and read aloud by Leavitt during Monday's White House press briefing, was written over a list of the lowest bank rates of world nations, where the U.S. ranks No. 35 with 4.5 percent.
You are, as usual Too Late. You have cost the USA a fortune and continue to do so you should lower the rate by a lot! Hundreds of billions of dollars being lost!
No inflation. The president is right, thanks to his policies, and we will continue to drive down the cost of living, continue to deregulate.
Trump shared the same note to his Truth Social account, emphasizing that countries like the UK and Canada have much lower rates, ranging from .25 percent to 1.75 percent.
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