The post Trump says ‘stupid’ Powell ‘probably won’t cut’ rates when Fed meeting ends Wednesday appeared on BitcoinEthereumNews.com.

President Donald Trump speaks about a flag pole being installed on the South Lawn of the White House, Wednesday, June 18, 2025, in Washington. Evan Vucci | AP With the Federal Reserve just hours away from its latest decision on interest rates, President Donald Trump on Wednesday lambasted Chair Jerome Powell, calling him “stupid” while he doubted the central bank would cut. In his latest in a series of attacks on Powell that go back years, Trump said the Fed’s key borrowing rate should be at least 2 percentage points lower. “So we have a stupid person. Frankly, you probably won’t cut today,” Trump said in impromptu remarks just outside the White House. “Europe had 10 cuts, and we had none. And I guess he’s a political guy, I don’t know. He’s a political guy who’s not a smart person, but he’s costing the country a fortune.” The remarks came just about four hours before the rate-setting Federal Open Market Committee was to release its statement on interest rates, along with an update of where it sees policy and several key economic metrics heading over the next several years. Market pricing indicates no probability of cut at this meeting, with the next move expected in September. The Fed currently targets its overnight borrowing rate in a range between 4.25%-4.5%. Powell had his colleagues have expressed hesitation about adjusting rates with so many unanswered questions regarding the economy. For one, the longer-term impact of Trump’s tariffs is not known. Inflation indicators are little changed since the tariffs were implemented in April, but various factors have colluded to keep the impact from the duties at bay. This is breaking news. Please refresh for updates. Source: https://www.cnbc.com/2025/06/18/trump-says-stupid-powell-probably-wont-cut-rates-when-fed-meeting-ends-wednesday.html

---

Filed under: News - @ June 18, 2025 2:22 pm