Trump Criticizes Fed’s High Interest Rates, Urges Cuts Amid Economic Growth and No Inflation

On July 9, former President Trump criticized the Federal Reserve’s interest rate policy, asserting that rates remain excessively elevated by at least three percentage points. He attributed significant refinancing costs, estimated at $360 billion annually, to Federal Reserve Chair Jerome Powell’s delayed response, labeling him “Mr. Too Late.” Trump emphasized the absence of current inflationary pressures and highlighted increased corporate migration to the United States, advocating for an immediate reduction in interest rates to stimulate economic growth and reduce borrowing expenses.