Trump Calls Fed Chair Powell a 'Numbskull' Over Rates
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President Trump vehemently criticized Federal Reserve Chair Jerome Powell, calling him a "numbskull" for not lowering interest rates. Trump claims a 2-percentage-point rate cut would save the U.S. $600 billion annually. This attack follows recent economic data suggesting lower inflation, prompting Trump and his administration to increase pressure on the Fed. Commerce Secretary Lutnick echoed Trump's sentiments, urging Powell to cut rates immediately.
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