Trump says interest rate should be 1% or less, takes aim at Powell
US President Donald Trump wrote to Fed Chair Jerome Powell urging him to lower interest rates, White House press secretary Karoline Leavitt told reporters on Monday, June 30. Leavitt, at a briefing, displayed a copy of Trump's handwritten notes to Powell on a piece of paper showing the interest rates charged by more than two dozen countries. Trump believes interest rates should be lowered to about 1%, she said. Trump said that Federal Reserve Chair Jerome Powell and members of the Federal Reserve Board of Governors have failed to do their jobs.
VIDEO BY REUTERS / SOCIAL MEDIA WEBSITE
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00:00The one problem that remains is high interest rates for the American people.
00:04The American people want to borrow money cheaply, and they should be able to do that.
00:07But unfortunately, we have interest rates that are still too high.
00:10So the president sent this note to the Fed chair today.
00:14And if you look at this chart, this is a chart of all of the interest rates of many countries throughout the world.
00:20At the top is Switzerland. They're only paying a quarter for interest rates.
00:23Cambodia, Japan, Denmark, Thailand, Botswana, Barbados, Taiwan, Bulgaria, Cuba, Sweden, Morocco, Cabo Verde, South Korea, Algeria, Canada, Albania, Libya, Malaysia, China, New Zealand, Trinidad, and Tobago.
00:39Czechia, Bolivia, Australia, Costa Rica, the Bahamas, Kuwait, Papua New Guinea, Bosnia, United Kingdom, and the UAE are all paying lower interest rates than the United States of America,
00:52which has one of the hottest and strongest economies in the world.
00:56The president sent this note to the Fed chair.
00:58It says, Jerome, you are, as usual, too late.
01:01You have cost the USA a fortune and continue to do so.
01:04You should lower the rate by a lot.
01:05Hundreds of billions of dollars are being lost and there is no inflation.
01:10And the president is right.
01:11There is historically low inflation, thanks to his policies.
01:15And we will continue to drive down the cost of living in this country for Americans.
01:19We will continue to deregulate.
01:21And it's also incredibly important that we pass this one big, beautiful bill, which is the largest tax cuts in American history.
01:35And it's also very important that we pass this one big, beautiful bill, which is the largest tax cuts in American history, which is the largest tax cuts in American history, which is the largest tax cuts in American history, which is the largest tax cuts in American history, which is the largest tax cuts in American history, which is the largest tax cuts in American history, which is the largest tax cuts in American history, which is the largest tax cuts in American history, which is the largest tax cuts in American history, which is the largest tax cuts in American history, which is the largest tax cuts in American history, which is the largest tax cuts in American history, which is the largest tax cuts in American history, which is the largest tax cuts in American history, which is the largest tax cuts in American history, which is the largest tax cuts in American history, which is the largest tax cuts in American history, which is the largest tax cuts in American history, which is the largest tax cuts in American history, which is the largest tax cuts in American history, which is the largest tax
