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Trump sends handwritten letter to Fed chairman, calls for interest rate cut
US President Donald Trump on Monday attacked Federal Reserve Chairman Jerome Powell and his board of directors again. He posted on social media that he was campaigning for “very low interest rates” because interest rates need to be cut further.
Trump sends handwritten letter to Fed chairman, calls for interest rate cut
Trump said the Fed board should be ashamed of itself for having reached this point. Not only board members but also the presidents of five other regional federal funds rate banks participate in policy-making votes. So it is unclear whether Trump is blaming the board alone or all voting officials.

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Trump sends handwritten letter to Fed chairman, calls for interest rate cut
CNN
Published: 01 July 2025, 13:05
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US President Donald TrumpPhoto: AFP
US President Donald Trump again attacked Federal Reserve Chair Jerome Powell and the board of directors on Monday. In a post on social media, he said that interest rates should be reduced further, which is why he is campaigning for ‘very low interest rates’.
Trump said that the Fed board should be ashamed that the situation has reached this point. Not only board members are involved in policy-making votes; Instead, the presidents of five other regional federal banks also participated. So it is not clear whether Trump is blaming only the board or all the voting officials.
Trump also posted a list on social media, comparing interest rates at various central banks around the world. It shows that the US interest rate is relatively high. Trump said in his own handwritten comments below the list that Powell has hurt the United States and is still doing so. White House press secretary Carolyn Levitt said that Trump sent the list to the Federal Reserve Board.
Trump also said, “The board sits quietly, they are also responsible. We should be paying interest at 1 percent, even less than that.”
For several months, Trump has been making one-on-one attacks on Powell. Sometimes he has called him “stupid”, sometimes “idiot” or “idiot”. However, Trump himself appointed Powell as chairman of the Fed in 2018. His main complaint is that the Fed has not lowered interest rates. As a result, a huge amount of money is being spent on paying interest on government debt.
Levitt said Americans should have the opportunity to borrow easily. But the current high interest rates are depriving people of that opportunity.

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Trump sends handwritten letter to Fed chairman, calls for interest rate cut
CNN
Published: 01 July 2025, 13:05
Follow

US President Donald TrumpPhoto: AFP
US President Donald Trump again attacked Federal Reserve Chair Jerome Powell and the board of directors on Monday. Posting on social media, he said that interest rates need to be reduced further, which is why he is campaigning for ‘very low interest rates’.
Trump said the Fed board should be ashamed that the situation has reached this point. Not only board members; but also the presidents of five other regional federal banks participate in the policy-making vote. So it is not clear whether Trump is blaming only the board or all voting officials.
At the same time, Trump posted a list on social media, where interest rates of various central banks around the world are compared. It shows that US interest rates are relatively high. Trump said in his own handwritten comments below the list, Powell has hurt the United States and is still doing so. White House press secretary Carolyn Levitt said that Trump sent this list to the Federal Reserve board.
Trump also said, “The board sits quietly, they are also responsible. We should be paying interest at 1 percent, even less than that.”
Trump has been making one-on-one comments on Powell for several months. Sometimes he called him “stupid”, sometimes “idiot” or “foolish”. However, Trump himself appointed Powell as the Fed chairman in 2018. His main complaint is that the Fed has not reduced interest rates. As a result, a huge amount of money is being spent on paying off government debt.
Levitt said that Americans should have the opportunity to borrow easily. But the current high interest rates are depriving people of that opportunity.
Meanwhile, the European Central Bank and the Central Bank of Mexico have cut interest rates several times, but the Fed has not done so. Officials said that the Fed wants to make a decision after reviewing the impact of the policy changes adopted during Trump’s tenure.
Powell, however, did not respond to Trump’s criticism. He only said that the Fed’s only goal is to control inflation and maintain labor market stability; revenue or government debt are not considered in the Fed’s policymaking. “We don’t set interest rates based on political considerations,” Powell said in his Senate testimony on June 24.
Lawmakers praised Powell for his political neutrality during his report on monetary policy to Congress in early June. Not only in the United States, but many central bankers around the world have also praised Powell’s fact-based neutrality.
