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Trump tells Fed board to oust Powell if he fails to cut interest rates
The Guardian
|August 02, 2025
Donald Trump suggested that US central bank officials should oust the boss, Jerome Powell, if he refused to cut interest rates, as the world's largest economy began to show signs of severe strain.
Yesterday Trump told Powell to back cuts to borrowing costs immediately or be stripped of his role as chair of the Federal Reserve, and later in the day appeared to blame jobs figures on Powell's failure to cut rates.
"Jerome 'Too Late' Powell, a stubborn MORON, must substantially lower interest rates, NOW," he said on his social media site Truth Social. "IF HE CONTINUES TO REFUSE, THE BOARD SHOULD ASSUME CONTROL, AND DO WHAT EVERYONE KNOWS HAS TO BE DONE!"
This story is from the August 02, 2025 edition of The Guardian.
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