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Trump Demands Fed Rates Be Cut in Half, Calls Powell “Stupid” in TV Interview

Trump Demands Fed Rates Be Cut in Half, Calls Powell “Stupid” in TV Interview

President Trump criticized Federal Reserve Chairman Jerome Powell on Sunday, claiming he’s keeping interest rates “artificially high” and calling him a “stupid person.” Trump believes rates should be at 1-2% instead of the current 4.25-4.5% range.

The President said he won’t appoint a new Fed chair unless they agree to cut rates immediately, with Treasury Secretary Scott Bessent suggesting a replacement could be nominated as early as October 2025, months before Powell’s term ends in May 2026.

Eight more from the desk

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