President Donald Trump on Thursday renewed his pressure campaign on Federal Reserve Chair Jerome Powell, demanding that the central bank reduce interest rates immediately rather than wait for its next scheduled policy meeting.
On Truth Social, Trump wrote: "Where is the Federal Reserve Chairman, Jerome 'Too Late' Powell, today? He should be dropping Interest Rates, IMMEDIATELY, not waiting for the next meeting!"
Trump did not elaborate, but the message fits a now-familiar pattern in which he has publicly argued that lower borrowing costs would help accelerate growth and ease financing pressure across the economy.
The renewed attack comes less than a week before the Federal Open Market Committee's next scheduled meeting on March 17 and 18, when policymakers are set to weigh incoming data on inflation, employment, and broader financial conditions before deciding whether to adjust rates.
At its last meeting on Jan. 28, the Fed left the target range for the federal funds rate unchanged at 3.5% to 3.75% and said it would "carefully assess incoming data, the evolving outlook, and the balance of risks" before making any further moves.
That Jan. 28 decision was not unanimous, with Stephen Miran and Christopher Waller dissenting in favor of reducing the target range by a quarter of a percentage point, underscoring that debate over the timing of rate cuts is already underway at the central bank.
Fresh economic figures have given both the White House and the Fed new material to cite as they make their case.
The Department of Labor reported Friday that nonfarm payrolls edged down by 92,000 in February while the unemployment rate held at 4.4%, showing some cooling in the labor market even as wage growth remained positive.
On Wednesday, the Bureau of Labor Statistics said the consumer price index rose 0.3% in February and 2.4% over the previous 12 months, while core inflation, which excludes food and energy costs, increased 2.5% from a year earlier.
Powell has long insisted that monetary policy decisions must rest on economic evidence rather than political demands, and the Fed's most recent statement repeated that officials remain focused on maximum employment and returning inflation to the central bank's 2% objective.
Trump's feud with Powell stretches back years and has intensified as the president has repeatedly branded him "Too Late" for not moving faster to lower rates.
Trump originally elevated Powell to the top Fed job in 2017, but he has since made him one of his most frequent economic targets as markets and policymakers debate whether the next move should be a rate cut, and if so, when.
Powell's term as chair runs through May 15, although his term as a member of the Board of Governors continues until Jan. 31, 2028.
Theodore Bunker ✉
Theodore Bunker, a Newsmax writer, has more than a decade covering news, media, and politics.
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