Olusegun Ariyo
Following his tariffs programme, President Donald Trump of the United States, US, has charged the Chairman of the Federal Reserve, Jerome Powell, to cut interest rates.
Trump said Powell should stop playing politics because this is the perfect time to cut interest rates.
Posting on his social media, Truth, the US president, said Powell is always late, but he should change his image this time around.
Trump wrote: “This would be a PERFECT time for Fed Chairman Jerome Powell to cut Interest Rates. He is always ‘late,” but he could now change his image, and quickly.
“Energy prices are down, Interest Rates are down, Inflation is down, even Eggs are down 69%, and Jobs are UP, all within two months – A big win for America. .cut interest rates, Jerome and stop playing politics.”
On Friday, Powell said Trump’s tariffs programme will likely lead to higher inflation and slower US economic growth.
Powell said the Federal Reserve will focus on keeping price increases temporary.
He said the tariffs and their impacts on the economy and inflation are “significantly larger than expected.”
Powell noted that the import taxes are “highly likely” to lead to “at least a temporary rise in inflation,” adding that “it is also possible that the effects could be more persistent.”
