Urging the Federal Reserve to cut interest rates again, Trump claims Powell is about to resign

Wallstreetcn
2025.07.22 16:01

On the 22nd local time, U.S. President Trump stated that Federal Reserve Chairman Powell is about to step down. Trump claimed that current interest rates are too high, which is affecting the housing market. He stated that interest rates should be lowered by 3 percentage points, or even more. Since the beginning of this year, Trump has repeatedly criticized Powell and threatened to remove him from his position as Federal Reserve Chairman to pressure the Fed into cutting interest rates. Recently, the Trump administration has frequently mentioned the Federal Reserve's spending of $2.5 billion to renovate its office building and the "cost overruns," further pressuring Powell. (CCTV)

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