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Trump: Fed board should assume control if Powell won't lower interest rates

DISTRICT OF COLUMBIA, UNITED STATES, AUG 1 – Trump demands immediate rate cuts, calling inflation negligible despite Fed's 2.6% measure, and urges the board to replace Powell if he refuses, citing potential economic benefits.

  • President Donald Trump called for the Federal Reserve board to assume control if Chair Jerome Powell refuses to substantially lower interest rates.
  • Trump issued this call in posts on his Truth Social platform, criticizing Powell as stubborn amid the Fed holding rates steady this year at 4.33%.
  • Powell has kept the benchmark rate unchanged despite inflation running at 2.6%, slightly above the Fed's 2% target, while two governors dissented favoring slight cuts.
  • Trump demands a three percentage point rate cut, arguing it would boost growth and lower debt servicing costs, though experts warn such cuts could accelerate inflation.
  • Powell's term ends in May 2026, when Trump can appoint a Senate-confirmed successor, leaving Fed leadership and rate policy uncertain amid political tensions.
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Lean Right

Donald Trump does not abandon the head of the central bank, whose interest rate policy is a thorn in the eye of the US president. The Fed board was divided in the recent interest rate decision. Trump is right about that and another development.

·Dortmund, Germany
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Conservative Journal Review broke the news in on Friday, August 1, 2025.
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