President Donald Trump says the Federal Reserve cutting interest rates would be “jet fuel” for the U.S. economy.
Throughout May 8, Trump took aim at Fed Chair Jerome Powell on social media and at a White House event announcing a new U.S.–UK trade agreement.
Speaking to reporters at the Oval Office, Trump stated that central banks worldwide are cutting interest rates, except for the Federal Reserve. If Powell lowered interest rates like the United Kingdom and other countries, it would be “like jet fuel” for the U.S. economy, Trump said.
“But he doesn’t want to do it,” the president said. “I think he doesn’t want to do it. Probably he’s not, he’s not in love with me. I think that’s, it’s sort of a crazy reason, but that’s the way life is.”...
