In recent weeks, Townhall has covered how President Donald Trump has fired off on Jerome Powell, who spearheads the Federal Reserve.
Earlier this month, Trump explained that he may have to “force something” on the Fed, presumably to get Powell out.
“We’re going to spend $600 billion a year because of one numbskull that sits here, ‘I don’t see enough reason to cut the rates now.’… I explained to him, ‘Look, if inflation went up, cut your rates now, there’s no inflation,’” Trump said, referring to Powell, adding that gasoline and prices are down.
“Let’s say there’s inflation a year from now. Raise your rates. I don’t mind. Raise your rates…You don’t have to keep them up here…I may have to force something…Unlike Biden, I stay awake at night thinking about how to save our country,” Trump added.
In a White House press briefing on Monday, press secretary Karoline Leavitt shared a note the president recently penned to Powell.
"Jerome, you are as usual, too late. You have cost the USA 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."
🚨The President's Note to Jerome Powell:
— Townhall.com (@townhallcom) June 30, 2025
"Jerome, you are as usual, too late. You have cost the USA 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." pic.twitter.com/1H5q08lwnU
Additionally, Leavitt presented a list of countries with lower rates than the United States.
Press Secretary Karoline Leavitt began her briefing by urging Fed Chair Jerome Powell to lower interest rates - and reading a fairly long list of countries with lower rates. pic.twitter.com/allPoabXui
— Bernd Debusmann Jr (@BernieDebusmann) June 30, 2025