Trump Urges Powell to Cut Interest Rates ‘By a Lot’ in Penned Note

“The president sent this note to the Fed Chair. It says, ‘Jerome, you are, as usual, too late. You have cost the U.S.A. a fortune and continue to do so. You should lower the rate by a lot. Hundreds of billions of dollars are being lost and there is no inflation.” “I’d love him to resign if he wanted to. He’s done a lousy job. But we have a guy that’s just a stubborn mule and a stupid person that is making a big mistake. I’ve instructed my people not to do any debt beyond nine months or so. Get this guy out, and I’m going to put somebody that wants to cut rates. There are a lot of them out there.” “Policy changes continue to evolve, and their effects on the economy remain uncertain. For the time being, we are well-positioned to wait to learn more about the likely course of the economy before considering any adjustments to our policy stance.”