Trump Critiques Powell Ahead of Congressional Testimony

Before his testimony to Congress on Tuesday, President Trump aimed pointed remarks at Federal Reserve Chairman Jerome Powell, insisting that he should not lower interest rates.

On social media, Trump stated, “There’s no inflation or great economy. Rates should be at least 2-3 points lower. This could save the U.S. $800 billion a year.”

He added, “If things take a turn for the worse later, we’ll consider raising the rate. Congress wants someone who actually knows what they’re doing—not just a really stubborn person.”

The president has consistently criticized Powell, holding him responsible for the Federal Reserve’s decision to maintain stable interest rates. Just last week, Trump suggested appointing a new Fed leader, claiming, “I can do a much better job than these people.”

With less than a year left in Powell’s term, Trump has repeatedly threatened his position, criticized the economy under his management, and accused him of manipulating interest rates to favor Democrats.

“We’re trying to figure out how tariff-induced inflation plays out to decrease charges. There’s a lot of ambiguity around that,” he noted.

“Someone will have to bear the costs of tariffs… whether it’s the manufacturer, the importer, or even the consumer in the end,” Powell remarked in response.