In his latest statements, US President Donald Trump argued that there is a broad consensus that the Fed should cut interest rates.
However, Trump reiterated his criticism of Fed Chairman Jerome Powell, saying, “'Too Late Powell' will probably mess things up again.”
Trump said that almost everyone agreed that the Fed should cut interest rates soon. However, he suggested that Powell would mismanage this process as he had done in previous steps. Trump had also said of Powell in April that “he should be removed from office immediately” and described him as “a big loser.” Trump backed down for a while when markets were in turmoil after those statements, but he reacted again this month when interest rates were not cut.
Trump also announced that he will hold a phone call with Russian President Vladimir Putin on Monday. He said that after his meeting with Putin, he will speak with Ukrainian President Volodymyr Zelenskyy and that he will also meet with various NATO figures along with Zelenskyy.
*This is not investment advice.
