President Donald Trump proclaimed on Thursday that the United States has fully rebounded, and he urged the Federal Reserve to respond by slashing interest rates.
Taking to Truth Social, Trump celebrated unprecedented highs across major financial indicators, from tech stocks to cryptocurrencies. He pointed to Bitcoin’s historic surge and the lack of inflationary pressure as proof of the economy’s strength. “Tech Stocks, Industrial Stocks, & NASDAQ, HIT ALL-TIME, RECORD HIGHS! CRYPTO, ‘Through the Roof.’ NVIDIA IS UP 47% SINCE TRUMP TARIFFS. USA is taking in Hundreds of Billions of Dollars in Tariffs. COUNTRY IS NOW ‘BACK.’ A GREAT CREDIT!” Trump wrote, while pushing the Fed to act.
He continued by stressing that interest rates need to come down immediately. “FED SHOULD RAPIDLY LOWER RATE TO REFLECT THIS STRENGTH. USA SHOULD BE AT THE ‘TOP OF THE LIST.’ NO INFLATION!!!” he said.
The president has not held back in criticizing Federal Reserve Chairman Jerome Powell for resisting calls to reduce rates. Despite Trump’s persistent pressure, the Fed has opted not to make the move, keeping borrowing costs elevated.
Powell has defended the Fed’s approach by warning that Trump’s trade and tariff strategies might eventually drive inflation—an outcome that has yet to materialize.
In another post on Thursday, Trump again took aim at Powell using a nickname he has often repeated. “‘Too Late’ DEMEANS THE GREAT CREDIT OF THE USA. We are now, again, the Number One Credit in the World! ‘Gigantic Comeback,’” Trump wrote. “The Fed Rate should be reflective of this. We should be at the top of the list!!! LOWER THE RATE!!!”
As of June, the Federal Reserve kept its benchmark rate in the 4.25% to 4.5% range. That came after rate reductions of 50 basis points in September and 25 basis points each in November and December. Breitbart News Economics Editor John Carney reported these figures in a June update.
Even though inflation has dipped below the Fed’s 2% target in recent months, central bank officials have remained cautious. At their most recent meeting, they increased their inflation outlook and reiterated plans for two rate cuts in 2025—unchanged from March’s forecast. Powell said while there had been “modest further progress,” the Fed needs “greater confidence that inflation is moving sustainably toward 2 percent” before making any further rate reductions.
Carney also noted that inflation eased again in May, as shown in economic data released toward the end of June.
{Matzav.com}