Trump Regrets Powell’s Fed Appointment, Demands Rate Cuts to 1-2%

Former U.S. President Donald TRUMP has publicly expressed regret over appointing Jerome Powell as Federal Reserve Chair, calling it a "significant mistake" in a Truth Social post. Trump criticized Powell's reluctance to cut interest rates, claiming it costs the U.S. nearly $1 trillion annually. He demanded immediate rate reductions to 1-2%.

The ex-president revealed he had attempted various tactics to influence Powell's decisions, with limited success. Trump went as far as suggesting he might have fired Powell before the end of his term, while also alleging personal animosity from the Fed chair.

Despite acknowledging some progress on inflation, Trump maintains the Fed must act more aggressively. The U.S. currently maintains one of the highest central bank rates among major economies at 4.50%.