Former President Donald Trump urged the Federal Reserve to slash interest rates in a Truth Social post Tuesday, declaring “No Inflation” and blasting Fed Chair Jerome Powell as a “total disaster.” The comments come ahead of the Fed’s September 17 policy meeting, where markets expect rate cuts amid signs of cooling inflation and slower job growth.
- Trump wrote: “Just out: No Inflation!!! ‘Too Late’ must lower the RATE, BIG, right now. Powell is a total disaster, who doesn’t have a clue!!!”
- The remarks follow recent government data showing a 0.1% decline in the August Producer Price Index, with annual PPI up 2.6%.
- Payroll revisions released earlier this week indicated nearly 1 million fewer jobs were created through March than previously reported, raising concerns about labor market strength.
- Markets broadly anticipate the Fed to begin cutting rates at its upcoming meeting, with traders pricing in at least a 25-basis-point reduction.
- Powell and several Fed officials have recently acknowledged rising risks to employment but signaled caution in moving too quickly on monetary policy adjustments.
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Editor’s Note: This is a developing story. This article may be updated as more details become available.
